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Aud still driven by market sentiment
2022-06-10
957
Fundamental analysis:
The Australian dollar remained volatile around 0.70972 against the US dollar. The main trend of the Australian dollar is still driven by market sentiment. Moreover, the US dollar is still showing strong resilience in the high-level region, which undoubtedly suppressed the further rise of the Australian dollar.
AUDUSD AUDUSD - 4-hour K-line chart display:
Technical comments: the power of high short positions continued to fluctuate down to the nodes near the brin zone index, and then fell rapidly. After the low position reached the nodes near 0.70924, the power of short positions continued to decline. The brin zone index continued to open its mouth, the MACD index continued to move down under the 0 axis, and the RSI index continued to decline under the 50 equilibrium line;
Multi empty turning point: 0.71128
Pressing position: 0.71402, 0.71668
Support position: 0.70676, 0.70410
Trading strategy: bearish below 0.71128, target 0.70676, 0.70410
Alternative strategy: bullish above 0.71128, target 0.71402, 0.71668
The above analysis is a personal point of view and is for reference only.
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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