Analysis of FPG Australian dollar movement on 9.23

AUDUSD H4

After the US Federal Reserve interest rate decision and local Australian employment market data were released on Thursday, the Australian dollar closed with a large bullish candlestick and then showed a volatile downward trend on Friday. Currently, the market is waiting for the speech after tomorrow's interest rate decision by the Reserve Bank of Australia. The market expects that the interest rate decision tomorrow will maintain the current rate, but hopes to find more clues in the subsequent press conference. In the previous public statement, the Reserve Bank of Australia stated that it will not cut interest rates in the near future, while the Federal Reserve subsequently made a significant 50 basis points interest rate cut. If the Reserve Bank of Australia continues to maintain a hawkish attitude, it may continue to boost the Australian dollar. If the Reserve Bank of Australia softens its previous stance and gives the market the possibility of a certain interest rate cut, the Australian dollar will decline. After the interest rate decision, the most closely watched inflation data CPI by the Reserve Bank of Australia will also be released this Wednesday. If inflation remains high, it may strengthen the hawkish stance of the Reserve Bank of Australia not to cut interest rates in the near future. If inflation falls, the Reserve Bank of Australia is likely to start an interest rate cut cycle within the year, and the Australian dollar will decline.

On the technical side, the Australian dollar fell after reaching a new high for the year on Thursday and closed lower on Friday. In the short term, the highs and lows are moving downwards, possibly forming a downward channel in the short term. However, there will be an upward trendline support in the middle of September, with the intersection near the 0.679 level. This level may provide strong support and resistance exchange. Pay particular attention to the movement near the 0.679 level.

There is resistance at the first level of 0.682, the second level of 0.684, and the third level of 0.685.

There is support at the first level of 0.680, the second level of 0.679, and the third level of 0.676.

# This advice is only general advice and does not take into account your specific financial situation and needs. Investment involves risks, so please evaluate carefully. #