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AUDUSD: high shock down
2022-08-10
1274
Fundamental analysis:
The AUD / USD fluctuated around 0.69608. As the RBA raised interest rates again and the cost of living soared, an indicator of Australian consumer confidence fell for the ninth consecutive month in August, hitting the lowest level since the beginning of the epidemic.
AUDUSD AUDUSD - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, the power of high short positions maintains a downward trend, and the short-term downward trend may continue. The MACD index is weak on the upper side of the 0 axis, and the RSI index is in a narrow range near the 50 equilibrium line;
Long and short turning point: 0.69680
Pressing position: 0.69857, 0.70054
Support position: 0.69408, 6.09231
Trading strategy: bearish below 0.69680, target 0.69408, 6.09231
Alternative strategy: bullish above 0.69680, target 0.69857, 0.70054
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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