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Australia and the United States: bulls rose strongly

2022-07-20
1264
Fundamental analysis:

The Aussie dollar remained high at around 0.68917, and the RBA believed that it was necessary to further tighten policy, because even after the recent interest rate hike, interest rates were still too low to curb inflation expectations in the context of a strong labor market.


AUDUSD AUDUSD - 4-hour K-line chart shows:





Technical analysis:


According to the 4-hour chart, the Bull Power fluctuated strongly and moved upward step by step. In the short term, it was at a high level, and the bull power continued to move upward. The MACD index was at a high level in the bull region, and the RSI index was at a high level in the bull region;


Long short turning point: 0.68797


Pressing position: 0.69116, 0.69273


Support position: 0.68621, 0.68446


Trading strategy: bullish above 0.68797, target 0.69116, 0.69273


Alternative strategy: bearish below 0.68797, target 0.68621, 0.68446

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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