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Goldman Sachs said on May 14 that the likely direction of the USD/Asian currency pair is still down after the recent progress in trade negotiations. It said that despite the recent progress in trade negotiations between China and the United States, the main themes of the market have not changed. These themes are: the trend of gradually diversifying investments from US assets should continue; Asian exporters should continue to convert US dollars into local currencies; if the Asian region conducts trade negotiations with the United States, it may be more difficult for its currency to depreciate.South Koreas unemployment rate was 2.7% in April, in line with expectations of 3% and the previous value of 2.90%.U.S. House Speaker Johnson: Republicans may not reach an agreement on the state and local government tax (SALT) bill until tomorrow.German Geoscience Research Center GFZ: A 6.3-magnitude earthquake occurred on the Greek island of Crete.On May 14, the article stated that recently, some consumers found that after purchasing a monthly pass for shared bicycles, they were still charged for overtime within the specified time, and a single payment was turned into a membership card. This kind of platform inducement phenomenon exists in many shared economy consumption scenarios. Inclusiveness is the starting point of the shared economy. The value of the shared economy lies in allowing more people to enjoy services in a convenient and low-cost way, rather than exploiting user interests through information asymmetry. If the platform wants to achieve sustainable development, it must optimize the membership mechanism, ensure transparent rules, reasonable billing, and freedom to cancel subscriptions, so that consumers can truly feel the benefits. Dont forget the original intention of inclusiveness, so that the shared platform can truly play its social value and achieve a win-win situation with consumers.

AUD/USD Price Analysis: Bears Struggle with 100-SMA Support Below 0.7000

Daniel Rogers

May 19, 2022 09:57

AUD/USD sellers hit critical short-term support around 0.6960 as traders attempt to reduce the largest daily loss in a week ahead of Australia's important employment report on Thursday.

 

Nevertheless, the AUD/USD pair is currently trading at a confluence of the 100-HMA and a weekly rising trend line at 0.6960.

 

In light of the bearish MACD indications and the lack of a rebound from the aforementioned support line, AUD/USD sellers are expected to maintain control.

 

For the bear to return, however, a convincing downside breach of the 0.6960 support confluence is required. The focus will then go to the 0.6900 mark and the monthly low near 0.6830.

 

Until the AUD/USD crosses a two-week-long horizontal resistance zone between 0.7040 and 0.7060, a rebound will remain elusive.

 

In the event that AUD/USD goes over 0.7060, several May highs near 0.7135-40 may provide support for bulls. 

AUD/USD: Chart Hourly

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