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AUDUSD: range bound

2023-04-20
940
Fundamental analysis:

AUD/USD remained volatile around 0.67159. RBA Chairman Philip Lowe will hold a press conference on April 20. RBA Chairman Philip Lowe will hold a press conference on the central bank's review report.

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



Brief technical analysis:

Looking at the 4-hour chart: the short-term maintains a narrow range of volatility, and the market’s bearish sentiment has signs of waiting for an opportunity to enter the market, but it still fails to move down further. The MACD indicator is hovering above the 0 axis, and the RSI indicator is in a weak order near the 50 balance line;

Resistance levels: 0.67336 0.67434

Support levels: 0.67048 0.66938

Trading strategy: bearish below 0.67202, target 0.67048 0.66938
Alternative strategy: bullish above 0.67202, target 0.67336 0.67434

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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