8.22 FPG Australian Dollar Trend Analysis

AUDUSD H4

The Australian dollar made several attempts to break through 0.675 yesterday to no avail, and the price fluctuated. Currently, there are only two major central banks left in the world that have not adjusted interest rates in 2024, leaving only the US and Australia. In the minutes of the Australian Federal Reserve meeting on Tuesday, the Reserve Bank of Australia continued to hawk signals that it would extend current interest rates. It also said that if inflation increases significantly, it is reasonable to raise interest rates immediately, and maintain high interest rates to ensure that inflation returns to the target level next year. Not only did the whole story not discuss interest rate cuts, it even discussed the possibility of interest rate hikes. Meanwhile, the Australian Federal Reserve's delay in cutting interest rates has supported the Australian dollar to a certain extent.

On the technical side, in line with the previous analysis, the upward slope slowed. It fluctuated slightly and closed yesterday. The upper resistance of 0.675 was obvious, and the lower 0.673 support was strong. Currently, the general trend remains unchanged, and it may turn volatile in the short term, focusing on Powell's speech at the Jackson Hole conference on Friday. The analysis remains unchanged,

The upper line resistance is 0.675, the second line resistance is 0.676, and the third line resistance is 0.678.

The lower first line supports 0.673, the second line supports 0.671, and the third line supports 0.670.

# All points are based on FPG, and this recommendation is only general and does not take into account your specific financial situation and needs. Investments involve risk, so be sure to evaluate them carefully. #