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AUDUSD: wait patiently for a rebound

2022-07-15
1250



Fundamental analysis:


The Australian dollar once fell to 0.6680 against the US dollar, the lowest since May 2020, and finally fell 0.15% to 0.6746 due to global growth concerns.


AUDUSD AUDUSD daily chart



Technical analysis:


According to the daily chart, the short-term exchange rate continues to be weak, MACD runs below the 0 axis and the volume can continue to be high, RSI continues to be weak, and it is expected that the exchange rate probability will further decline after the rebound, waiting patiently for the end of the rebound.  


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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