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Australia and the United States: continuous shock and upward movement

2022-06-17
978
Fundamental analysis:

The Australian dollar remained volatile around 0.70467 against the US dollar. The strong employment situation in Australia in May showed little sign of weakening, and the unemployment rate remained at a 48 year low, highlighting the reason for the RBA to keep raising interest rates rapidly.


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




Technical comments: the low-level Bull Power surged strongly and began to sort out after touching the nodes near the brin belt index on the track. The short-term bull power had a further upward trend. The brin belt index began to open gradually after closing. The MACD index was in the low-level Bull Power's strong upward movement, hovering near the 0 axis, and the RSI index was in the narrow range sorting on the upper side of the 50 equilibrium line;


Multi empty turning point: 0.70384


Pressing position: 0.70809, 0.71083


Support position: 0.70091, 0.69772


Trading strategy: bullish above 0.70384, target 0.70809, 0.71083


Alternative strategy: bearish below 0.70384, target 0.70091, 0.69772


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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