AUDUSD: Bulls soar

Fundamental analysis:

The Australian dollar remained volatile around 0.68564 against the US dollar, and the Australian consumer confidence index rose 3.0% to 80.3, which still means that the number of pessimists far exceeds that of optimists. In November, the consumer confidence index fell sharply by 6.9%. Rebounding from near record lows in December, confidence among respondents with mortgages jumped 11.3 percent. Confidence among renters rose 3.8 percentage points, while that of respondents who owned their homes outright slipped 2.7 percentage points.

Australian dollar AUDUSD - 4-hour K-line chart shows:

Brief technical analysis:

Looking at the 4-hour chart: the bullish momentum has soared rapidly, the short-term bullish sentiment is shrouded, the market is at a high level, the MACD indicator is in the bullish area, and the high shock moves upward, and the RSI indicator is in the bullish area.

Long-short turning point: 0.68485

Suppression: 0.68711, 0.68864

Support: 0.68308, 0.68135

Trading strategy: Bullish above 0.68485, target 0.68711, 0.68864

Alternative strategy: bearish below 0.68485, target 0.68308, 0.68135