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tightening policy pressures commodities, AUD/USD accelerates decline
2022-06-15
888
Fundamental analysis:
From June 14th to 15th local time in the United States, the Federal Reserve will hold an interest rate meeting. Many institutions expect the Fed to accelerate the pace of tightening. Analysts said that under the expectation of the Fed raising interest rates, commodities will face pressure, among which non-ferrous metals and agricultural product futures such as soybean oil will bear the brunt, followed by black commodities.
AUDUSD daily chart:
Brief technical analysis: The short-term moving average of the daily chart turns rapidly, the exchange rate accelerates downward, the MACD runs below the 0 axis and the volume can start to increase, and the RSI weakens rapidly. It is expected that the exchange rate will likely fall further.
Long and short turning point: 0.7250
Suppression bit: 0.7400 0.7550
Support level: 0.7100 0.6950
Trading strategy: bearish below 0.7250, target 0.7100, 0.6950, 0.6800
Alternative strategy: bullish above 0.7250, target 0.7400, 0.7550
The above analysis is a personal opinion 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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