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AUDUSD: focus on suppression near 0.7030
2022-07-26
1197
Fundamental analysis:
After the Federal Reserve raised interest rates by 75 basis points again this week, there will be more volatility in the market. The fluctuation will continue until "the Federal Reserve makes a trade-off between economic growth and inflation". The Federal Reserve is expected to "tighten interest rates too much before changing its attitude, causing serious damage to economic growth".
AUDUSD AUDUSD daily chart
Technical analysis:
According to the daily chart, the short-term exchange rate is still rising slowly. MACD runs below the 0 axis, but the volume can shrink slightly, and RSI rises slightly. It is expected that the exchange rate will probably decline further after the rebound, and wait patiently for the rebound to end.
Multi empty turning point: 0.7030
Pressing bit: 0.7200 0.7400
Support position: 0.6850 0.6700
Trading strategy: bearish below 0.7030, target 0.6850, 0.6700
Alternative strategy: bullish above 0.7030, target 0.7200, 0.7400
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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