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AUDUSD: low volatility
2022-12-20
1073
Fundamental analysis:
The Australian dollar remained volatile around 0.67002 against the U.S. dollar. Australia raised its resource and energy export revenue forecast for this financial year to a record A$459 billion ($308 billion), as the conflict between Russia and Ukraine pushed up energy commodity prices. Export earnings from thermal coal and liquefied natural gas (LNG), used in power plants, will grow strongly in the year to June 2023, the report showed.
Australian dollar AUDUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the short-term lows fluctuate within a narrow range, the market’s bearish sentiment remains, short-term or entangled with the low-level weak trend, the MACD indicator is in the short-term area for consolidation and translation, and the RSI indicator is hovering weakly below the 50 balance line;
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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