AUDUSD: High level sorting

Fundamental analysis:

The AUD/USD remained volatile around 0.66994. The reason why Royal Bank of Canada raised the terminal interest rate expectation of the Federal Reserve of Australia: the market expected the terminal interest rate of the Federal Reserve to be 5-5.25%; The rise of inflation in Australia makes its overall and core inflation forecast slightly higher in 2022, but higher in 2023; The pace of interest rate increase of the Federal Reserve of Australia has slowed down. In the past two meetings, the rate increase has dropped to 25 basis points, which increases the risk that this may be a longer rate increase cycle and the peak interest rate will be higher.

AUDUSD AUDUSD - 4-hour K line chart shows:

Technical analysis:

The 4-hour chart shows that the high level of bulls' power has moved up slowly, the short-term high level of the market has been blocked and shocked, and the short-term or tangled high level has been reorganized. The MACD index hovers at the high level in the bulls' region, and the RSI index maintains its shock in the bulls' region;

Empty turning point: 0.67025

Pressing: 0.67337, 0.67623

Support: 0.66760, 0.66487

Trading strategy: bearish at 0.67025, target 0.66760, 0.66487

Alternative strategy: bullish above 0.67025, target 0.67337, 0.67623