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AUDUSD: strong climb
2023-04-14
888
Fundamental analysis:
AUD/USD remained volatile around 0.67833, Australian employment data was stronger than expected, AUD/USD rose and Treasury futures fell, but with the RBA in wait-and-see mode, Treasury yields are unlikely to remain high. The prospect of a peak in Fed rates could send the dollar on a downward path, with the Aussie generally stronger.
Australian dollar AUDUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the bullish momentum is strong and rising, the short-term bullish sentiment remains, the market fluctuates after breaking through the previous high node in the short term, the MACD indicator is at a high level in the bullish zone, and the RSI indicator is hovering at a high level in the bullish zone;
Resistance levels: 0.67942 0.68040
Support levels: 0.67668 0.67564
Trading strategy: Bullish above 0.67833, target 0.67942 0.68040
Alternative strategy: bearish below 0.67833, target 0.67668 0.67564
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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