Australia and the United States: high-level consolidation and retreat

The Australian dollar remained volatile around 0.68827 against the US dollar, and the Australian dollar is expected to rise for the fourth consecutive trading day. As central banks around the world try to control inflation, market expectations for more active interest rate hikes in the future are rising. It is expected that the RBA will raise interest rates by 75 basis points and 50 basis points in August and September respectively, and then slow down the pace of raising interest rates to reach 3.35% by the end of the year.

According to the 4-hour chart, the Bull Power fluctuated strongly, pulled up, the high level retreated in the short term, and the short power was waiting for the opportunity to enter. The MACD index was in the high level of the bull region, and the RSI index was in 50. The bull region on the online side was weak;

Long short turning point: 0.68914

Pressing position: 0.69116, 0.69273

Support position: 0.68621, 0.68446

Trading strategy: bearish below 0.68914, target 0.68621, 0.68446

Alternative strategy: bullish above 0.68914, target 0.69116, 0.69273