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
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