AUDUSD: try to suppress near 0.7030

Fundamental analysis:

Goldman Sachs: the RBA is expected to raise the benchmark interest rate from the current 1.35% to 3.35% by December. The overall CPI results reduce the urgency for the RBA to accelerate the pace of interest rate hikes. Therefore, the RBA is now expected to raise interest rates by 50 basis points to 1.85% in August (previously expected to raise interest rates by 75 basis points to 2.1%), by 50 basis points in September and October, and then by 25 basis points in November and December

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 decline further after the rebound. Wait patiently for the end of the rebound, and pay attention to whether the suppression near 0.7030 is effective.  

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