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Australia and the United States: low weak shock

2022-07-01
1345
Fundamental analysis:

The AUDUSD remained moderately volatile around 0.69007. Despite the rising cost of living pressure and weak house prices, the market expects that the sales of household goods in Australia will remain flexible in 2023. Prior to this, sales of household goods in Australia increased by 10% year-on-year in May, and the RBA raised interest rates for the first time since november2010.


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





Technical analysis:


According to the 4-hour chart, the bearish power continued to fluctuate downward in the lower rail section of the Bollinger belt index channel, the Bollinger belt index moved downward in a closing trend, the MACD index hovered below the 0 axis, and the RSI index was in a weak consolidation below the 50 equilibrium line;


Multi empty turning point: 0.69123


Pressing position: 0.69410, 0.69665


Support position: 0.68714, 0.68488


Trading strategy: bearish below 0.69123, target 0.68714, 0.68488


Alternative strategy: bullish above 0.69123, target 0.69410, 0.69665

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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