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Australia and the United States: continued downward

2022-07-12
1187
Fundamental analysis:

The Australian dollar remained volatile around 0.67178 against the U.S. dollar because, dragged down by concerns about global economic growth, the Australian dollar was the worst performing currency on Monday, once falling to a two-year low of 0.6713. Many Asian cities once again took epidemic prevention measures such as closure and closure to control the new epidemic, which may cause new supply disruptions, affect Australia's foreign trade and suppress the Australian dollar.


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




Technical analysis:


According to the 4-hour chart, the bearish shock downward trend is good, and there is no final stop in the short term. The MACD index is at the low end of the short area, and the shock downward continues, and the RSI index is at the short area to maintain the consolidation and translation;


Multi empty turning point: 0.67304


Pressing position: 0.67610, 0.67921


Support position: 0.66877, 0.66623


Trading strategy: bearish below 0.67304, target 0.66877, 0.66623


Alternative strategy: bullish above 0.67304, target 0.67610, 0.67921

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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