Technical Analysis: AUDUSD

AUDUSD hit a new low in more than 4 months

On Tuesday, AUDUSD fell nearly 1%, with the lowest price hitting 0.6365, a new low since August 5.

RBA kept interest rate unchanged

On December 10, the RBA kept the benchmark interest rate unchanged at 4.35% for the ninth consecutive time, in line with market expectations. The RBA said that although the downward trend in inflationary pressure was in line with expectations, risks still exist.

RBA Chairman Bullock stressed that the committee will continue to rely on dynamic assessments of data and risks to guide future policy actions. At the same time, the committee closely monitors developments in the global economy and financial markets, domestic demand trends, and changes in inflation and the labor market.

USDX continued to rise

USDX: On Tuesday, USDX continued to rise, reaching an intraday high of 106.62. It ended up 0.22% at 106.38.

Technically speaking, the bearish market trend prevailed in the short term

the Chart of the Day 

On the chart of the day, AUDUSD fluctuated and declined. The bearish market trend prevailed in the short term. In terms of technical indicators, KDJ went downwards after the death cross, showing AUDUSD will fall further. Investors should focus on whether AUDUSD will break through the support at 0.635. It will fall further with potential support at 0.627 if it breaks below 0.635.

4-hour chart

On the 4-hour chart, AUDUSD fluctuated and declined. The bearish market trend prevailed. In terms of technical indicators, MACD went downwards after the death cross, showing that the market trend is bearish. Investors should focus on whether AUDUSD will break through the resistance at 0.642. It will fall further if it rebounds but is capped at 0.642.

Key resistance: 0.642,0.647

Key support: 0.635,0.627

Generally speaking, AUDUSD is more likely to fall in the short term. Investors should focus on US November CPI data during the day.