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Australia and the United States: low shock

2022-06-28
1309
Fundamental analysis:

The Australian dollar remained volatile around 0.69187 against the US dollar, and commodity currencies were under pressure, because the data showed that the profits of Chinese industrial enterprises contracted again in May after a sharp decline in April, although the pace slowed down.



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





Technical analysis:


According to the 4-hour chart, the low-level Bull Power maintained a short-term consolidation and moved up to the middle and upper rail section of the Bollinger belt index channel. The short-term Bull Power showed signs of waiting for the opportunity to enter. The Bollinger belt index continued to close. The MACD index was in the short area and maintained a weak consolidation. The RSI index was in a narrow range around the 50 equilibrium line;


Multi empty turning point: 0.69139


Pressing position: 0.69549, 0.69820


Support position: 0.68883, 0.68674


Trading strategy: bullish above 0.69139, target 0.69549, 0.69820


Alternative strategy: bearish below 0.69139, target 0.68883, 0.68674

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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