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July 14 – The State Council Information Office held a press conference today to introduce my countrys foreign trade performance this year and answer reporters questions. In recent years, China has consistently maintained its position as the worlds largest exporter of sporting goods, accounting for over 40% of global exports. In the first half of the year, my countrys exports of sporting goods and equipment reached 67.53 billion yuan, of which ball sports accounted for 3.08 billion yuan. In the first half of the year, my countrys exports of fitness and rehabilitation equipment such as treadmills reached 26.7 billion yuan, and exports of water sports equipment such as paddleboards reached 4.77 billion yuan. In addition, exports of trendy skateboards, popular among young people, increased by 20.4%. my countrys sporting goods not only maintain a stable market share in traditional markets such as Europe and the United States, but also perform well in emerging markets such as Latin America and Africa. In the first half of the year, my countrys exports of sporting goods to Latin America and Africa increased by 18.9% and 8.1%, respectively.According to the General Administration of Customs, China exported 1.069 million automobiles (including chassis) in June, compared with 988,000 in May.According to the General Administration of Customs, China exported 5.307 million automobiles (including chassis) from January to June.According to the General Administration of Customs, China exported 53.261 million mobile phones in June, compared with 53.436 million in May.According to the General Administration of Customs, China imported 6,261.5 tons of rare earths in June, compared with 6,770.2 tons in May.

AUD/USD Price Analysis: Near 0.7500, it's make or break time

Larissa Barlow

Mar 31, 2022 09:57

 Key Takeaways

  • The AUD/USD currency pair is bidding at the upper edge of the rising channel pattern.

  • The asset has fallen below the 20-day exponential moving average, signaling worry for Aussie bulls.

  • The RSI (14) has fallen into a range of 40.00-60.00, which no longer favors the upside.

 

Since Wednesday, the AUD/USD pair has been trading in a range of 0.7500-0.7536. The asset appears to be losing strength following numerous failed efforts to breach the March 28 high of 0.7540. On Thursday, the asset saw a negative open rejection-reverse trading session, as it progressively increased after opening around 0.7507. The major, on the other hand, has encountered large offers near 0.7518 as investors prefer a'sell on rise' strategy.

 

On a four-hour chart, AUD/USD is trading towards the upper edge of the rising channel, the lower end of which is shown by the January 28 low of 0.6966 and the upper end by the January 13 high of 0.7315.

 

The asset is trading near the 0.7505 20-period Exponential Moving Average (EMA).

 

The Relative Strength Index (RSI) (14) has switched from a bullish range of 60.00-80.00 to a bearish range of 40.00-60.00, indicating that consolidation is imminent.

 

If the asset falls below the March 29 low of 0.7455, it will begin a decline toward the March 10 high of 0.7369, followed by the round level support at 0.7300.

 

On the other hand, Aussie bulls have the ability to control the price if the asset overcomes the March 28 high of 0.7541, which will take the asset towards round-level resistance at 0.7600, followed by the 17 June 2021 high of 0.7646.

Four-hour chart of the AUD/USD

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AUD/USD

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