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AUDUSD: low move down

2022-12-19
1129
Fundamental analysis:
The Australian dollar remained volatile around 0.67045 against the US dollar. National Australia Bank CEO Ross McEwan said that 2023 will be a year of slower growth than 2022, and challenges will continue to emerge and develop. Utilities and technology stocks fell more than 2%, gas companies APA Group and AGL Energy fell more than 2%, and Block fell 6.25%.

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




Brief technical analysis:
The 4-hour chart: After the short-term momentum fell, the lows fluctuated within a narrow range, and the market was shrouded in short-term sentiment. The MACD indicator was in the short-selling area and continued to fluctuate downward, and the RSI indicator was in the short-selling area.
Long-short turning point: 0.67045
Suppression: 0.67213, 0.67410
Support: 0.66815, 0.66656
Trading strategy: bearish below 0.67045, target 0.66815, 0.66656
Alternative strategy: Bullish above 0.67045, target 0.67213, 0.67410

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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