AUDUSD: Multi head accelerated lifting

Fundamental analysis:

As Australia's annual CPI rate in the third quarter was higher than expected, ANZ economists raised their forecasts for the official cash rate of the Federal Reserve of Australia, which is expected to reach a peak of 3.85% in May next year. It is possible for the Federal Reserve of Australia to raise interest rates by 50 basis points in November. However, considering the reasons behind the 25 basis points increase in October, economists believe that the Federal Reserve of Australia is more willing to raise interest rates more frequently and slightly rather than return to the 50 basis point rate hike.

AUDUSD daily chart

Technical analysis:

The daily chart shows that the short-term exchange rate continues to rise, the MACD runs below the 0 axis, but the volume can continue to shrink, the RSI continues to strengthen, and the exchange rate probability is expected to further rise.  

Empty turning point: 0.6450

Pressing position: 0.6650 0.6850

Support position: 0.6250 0.6050

Trading strategy: bullish above 0.6450, target 0.6650, 0.6850

Alternative strategy: bearish below 0.6450, target 0.6250, 0.6050