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AUDUSD: high level oscillation moves up

2022-08-12
1148
Fundamental analysis:

AUD / USD kept fluctuating around 0.701997 as investors digested the impact of US inflation cooling on the Fed's tightening monetary policy, the most likely result next month is a 50 basis point increase in interest rate.


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





Technical analysis:


According to the 4-hour chart, the high level of the Bulls' power moves upward, and the short-term pull-up trend may continue. The MACD index is in the Bulls' region to maintain and sort out, and the RSI index is in the Bulls' region high and weak;


Long and short turning point: 0.70886


Pressing position: 0.71178, 0.71377


Support position: 0.70682, 0.70485


Trading strategy: bullish above 0.70886, target 0.71178, 0.71377


Alternative strategy: bearish below 0.70886, target 0.70682, 0.70485



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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