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AUDUSD: multi head dynamic concussion up
2022-08-04
1208
Fundamental analysis:
The Australian dollar remained volatile around 0.69393 against the US dollar. It is expected that the RBA will raise interest rates by 50 basis points in September, which will help curb blazing inflation. However, if a report released later this month shows that wage growth is below average, the RBA may slow down the pace of tightening.
AUDUSD AUDUSD - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, the power of high short positions fluctuated rapidly and fell, which was supported in the short term and moved up slowly. The MACD index was in the short position and maintained the consolidation and translation, and the RSI index was in the weak position below the 50 equilibrium line;
Long short turning point: 0.69298
Pressing position: 0.69602, 0.69805
Support position: 0.69118, 0.68918
Trading strategy: bullish above 0.69298, target 0.69602, 0.69805
Alternative strategy: bearish below 0.69298, target 0.69118, 0.68918
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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