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AUDUSD: low volatility

2023-07-30
749
Fundamental analysis:

AUD/USD remains oscillating around 0.66497, and the RBA may have to cut interest rates in 2024, as the Australian housing market is dominated by variable-rate mortgages and is therefore more sensitive to interest rates, and homeowners have recently been affected by increased mortgage repayments Negative Effects.

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



Brief technical analysis:

The 4-hour chart: the short-term momentum fluctuates at a low level after a strong downward trend, the short-term decline weakens, the MACD indicator is in the short-term area and the RSI indicator is in the short-term area.

Resistance levels: 0.66756 0.66932

Support levels: 0.66321 0.66150

Trading strategy: bearish below 0.66585, target 0.66321 0.66150
Alternative strategy: Bullish above 0.66585, target 0.66756 0.66932

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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