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AUDUSD: bulls pull up strongly

2022-08-09
1160
Fundamental analysis:

AUD / USD fluctuated around 0.69827, and ANZ predicted that the RBA would raise interest rates by 50 basis points in September, October and November. David plank, director of Australian economy at ANZ, pointed out that the RBA had assumed that the official cash rate would rise from the current 1.85% to 3.0% over time.


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





Technical analysis:


According to the 4-hour chart, the long-term upward momentum is strong, and the short-term upward potential may continue. The MACD index is hovering on the upper side of the 0 axis, and the RSI index is in the narrow range of the 50 balanced online side;


Long and short turning point: 0.69769


Pressing position: 0.70054, 0.70246


Support position: 0.69556, 0.69390


Trading strategy: bullish above 0.69769, target 0.70054, 0.70246


Alternative strategy: bearish below 0.69769, target 0.69556, 0.69390

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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