AUDUSD: finishing in a narrow range

The Australian dollar remained volatile near 0.66863 against the US dollar, and the RBA has enough reasons to justify the suspension of interest rate hikes. Inflation data fell further in February after the release of weak inflation data in January. Combined with the recent banking woes in the US and Europe, and the minutes of the RBA's recent policy meeting confirming the discussion of a pause in rate hikes, the RBA has plenty of reasons to justify a pause in rate hikes.

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

The 4-hour chart: After the short-term shock and retracement of the high-level short-term momentum, the market's short-term sentiment began to enter the market slowly, and it may remain high in the short term.

Resistance levels: 0.67032 0.67150

Support levels: 0.66762 0.66666

Trading strategy: bearish below 0.66912, target 0.66762 0.66666

Alternative strategy: bullish above 0.66912, target 0.67032 0.67150