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AUDUSD: Bears plunge
2022-12-16
1080
Fundamental analysis:
The Australian dollar remained volatile around 0.66967 against the US dollar. The seasonally adjusted unemployment rate in Australia in November was 3.4%, expected to be 3.40%, and the previous value was 3.40%. Australia's 3-year government bond yield extended its gains to 3.14% after the release of Australia's November unemployment rate.
Australian dollar AUDUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the short-term momentum has fallen sharply, the short-term decline may continue, the overall downward trend of the market is good, the MACD indicator is on the lower side of the 0 axis, and the RSI indicator is hovering weakly on the lower side of the 50 balance line;
Long-short turning point: 0.67045
Suppression: 0.67213, 0.67410
Support: 0.66815, 0.66656
Trading strategy: bearish below 0.67045, target 0.66815, 0.66656
Alternative strategy: Bullish above 0.67045, target 0.67213, 0.67410
The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.
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