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AUDUSD: highs move down
2022-12-13
1140
Fundamental analysis:
AUD/USD remained volatile around 0.67532. Investors believe that FOMC's stance this week is dovish. AUD/USD may test the recent high of 0.6850. Strategist Joseph Capurso pointed out that the fair value of the Australian dollar against the US dollar has increased, but the Australian dollar is still significantly undervalued against the US dollar. Drivers such as fair value, commodity prices and interest rate differentials are working against AUD/USD.
Australian dollar AUDUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the high-level short-term momentum maintains shocks and declines, and the short-term decline may continue. The market maintains shocks and moves downwards. The MACD index is hovering weakly above the 0 axis, and the RSI index is weakly finishing below the 50 balance line;
Long-short turning point: 0.67606
Suppression: 0.67748, 0.67882
Support: 0.67392, 0.67265
Trading strategy: bearish below 0.67606, target 0.67392, 0.67265
Alternative strategy: Bullish above 0.67606, target 0.67748, 0.67882
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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