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AUDUSD: low up
2023-05-02
850
Fundamental analysis:
The Australian dollar remained volatile around 0.66326 against the US dollar, and agencies expect the RBA to keep interest rates unchanged at 3.6% again at its May meeting. First-quarter CPI was below the RBA's February forecast, giving it a respite at its May meeting.
Australian dollar AUDUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the momentum of low-level bulls fluctuated upwards in a stepwise manner, short-term bullish sentiment began to emerge, the bulls in the market continued to move up, the MACD indicator was in the short area and maintained a shock upward movement, and the RSI indicator hovered weakly near the 50 balance line;
Resistance levels: 0.66458 0.66603
Support levels: 0.66112 0.65954
Trading strategy: Bullish above 0.66270, target 0.66458 0.66603
Alternative strategy: bearish below 0.66270, target 0.66112 0.65954
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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