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AUDUSD: Bulls move up
2023-02-08
1059
Fundamental analysis:
The Australian dollar remained volatile around 0.69540 against the US dollar. The first interest rate decision in the new year, the RBA raised interest rates by 25 basis points as scheduled, raising the interest rate to 3.35%, the highest level since September 2012. Since April 2022, it has raised interest rates nine times , a total of 325 basis points of interest rate hikes.
Australian dollar AUDUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the low-level bullish momentum remains volatile and rising, short-term bullish sentiment emerges, the market bullish momentum maintains an upward movement, the MACD indicator is in the short area and moves upward, and the RSI indicator is in the short area and continues to rise;
Long-short turning point: 0.69450
Suppression: 0.69720, 0.69913
Support: 0.69262, 0.69109
Trading strategy: Bullish above 0.69450, target 0.69262, 0.69109
Alternative strategy: bearish below 0.69450, target 0.69720, 0.69913
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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