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Australia and the United States: weak downside

2022-06-30
1315
Fundamental analysis:

The AUDUSD remained volatile around 0.68727, and the RBA is likely to raise the cash interest rate by another 50 basis points in July. The investment bank pointed out that the RBA unexpectedly raised the cash interest rate by 50 basis points to 0.85% at its meeting in June, thus putting inflation concerns on the table.


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





Technical analysis:


According to the 4-hour chart, the short power continued to vibrate in a narrow range in the Bollinger belt index channel. After touching the nodes in the off track section, it began to go down gradually. The MACD index hovered below the 0 axis, and the RSI index was at the bottom of the 50 equilibrium line;


Multi empty turning point: 0.68891


Pressing position: 0.69146, 0.69410


Support position: 0.68488, 0.68215


Trading strategy: bearish below 0.68891, target 0.68488, 0.68215


Alternative strategy: bullish above 0.68891, target 0.69146, 0.69410

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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