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AUDUSD: Bulls move up
2023-08-01
754
Fundamental analysis:
The Australian dollar remained volatile around 0.67161 against the US dollar. The monthly rate of private enterprise loans in Australia in June was 0.2%, expected 0.40%, and the previous value was 0.40%. The annual rate of private business loans in Australia was 5.5% in June, compared with the previous value of 6.20%.
Australian dollar AUDUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: bullish momentum continues to fluctuate and rise, the market is shrouded in bullish sentiment, and there is a trend of continuing to move upward in the short term. The MACD indicator is in the short area and moves upward, and the RSI indicator is hovering weakly near the 50 balance line;
Resistance levels: 0.67325 0.67491
Support levels: 0.66906 0.66751
Trading strategy: Bullish above 0.67077, target 0.67325 0.67491
Alternative strategy: bearish below 0.67077, target 0.66906 0.66751
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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