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AUDUSD: The rebound continues with short selling
2022-07-14
1144
Fundamental analysis:
Atlanta Fed President Bostic also believes that higher-than-expected June inflation may require policymakers to consider a 100 basis point rate hike at their meeting later this month.
AUDUSD daily chart
A brief technical analysis:
From the daily chart: the short-term exchange rate continues to run weakly, the MACD runs below the 0-axis and the volume continues to increase, and the RSI rises slightly. It is expected that the exchange rate will likely further decline after a rebound.
Long-short turning point: 0.7030
Suppression bit: 0.7200 0.7400
Support: 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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