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The RBA unexpectedly raised interest rates by 50 basis points

2022-06-09
959
Fundamental analysis:

The Australian dollar remained volatile around 0.71847 against the US dollar. The RBA announced an interest rate resolution, raising the interest rate by 50 basis points from 0.35% to 0.85%. The market expected that it would be raised to 0.6%, much higher than expected.


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




Technical comments: in the long-term wide range fluctuation trend of the high level, the amplitude space is narrowed, the short power shows signs of waiting for the opportunity to enter the market, the Bollinger belt index is in the closing trend, the MACD index is in the weak hovering near the 0 axis, and the RSI index is in the narrow range adjustment near the 50 equilibrium line;


Multi empty turning point: 0.72005


Pressing position: 0.72306, 0.72572


Support position: 0.71562, 0.71261


Trading strategy: bearish below 0.72005, target 0.71562, 0.71261


Alternative strategy: bullish above 0.72005, target 0.72306, 0.72572


The above analysis is a personal point of view and is for reference only.

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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