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AUDUSD: Bears plunge
2023-02-06
1119
Fundamental analysis:
The Australian dollar remained volatile around 0.69100 against the U.S. dollar. Reuters poll: The RBA is expected to raise the key interest rate to at least 3.60% by the end of March (the January survey showed it was the end of June), 30 of 31 economists said the RBA The cash rate will be raised by 25 basis points to 3.35% on February 7, and the RBA is expected to maintain the 3.6% interest rate from the first quarter of 2023 to the end of the year.
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 has not stopped, the market's short-term sentiment has emerged, and there is a trend of continuing to move downward in the short term.
Long-short turning point: 0.69377
Suppression: 0.68549, 0.69721
Support: 0.69110, 0.68943
Trading strategy: bearish below 0.69377, target 0.69110, 0.68943
Alternative strategy: Bullish above 0.69377, target 0.68549, 0.69721
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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