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On May 24, local time, Mohsen Rezaei, military advisor to Irans Supreme Leader, stated that Iran will respond "strongly and unprecedentedly" to any actions targeting the Strait of Hormuz or hostile forces entering the Persian Gulf, and will initiate countermeasures by breaking the maritime blockade. Rezaei also stated that if the current situation continues, one of Irans strategic options is to potentially withdraw from the Treaty on the Non-Proliferation of Nuclear Weapons (NPT). He claimed that this move would have "serious consequences" for the other side.On May 24, it was learned from the National Data Administration that my country is accelerating the research and formulation of technical standards for a nationwide integrated computing power network. There are already 12 related guiding technical documents, covering multiple aspects such as computing power monitoring and scheduling, computing-power collaboration, and security protection, to promote the optimal allocation of computing power resources nationwide.On May 24th, European Central Bank (ECB) Governing Council member Kocher stated that the ECB will face an interest rate hike next month unless a sustainable peace agreement is reached between the US and Iran. Eurozone inflation this year may be higher than previously expected, while countries are still grappling with previous price shocks. Meanwhile, the economy has shown considerable resilience. "There are always some extremely low-probability scenarios that could lead to different assessments of the situation, but currently, all indications suggest we will have to decide between maintaining interest rates and raising them," Kocher said. "And it is clear to me that if the situation does not improve, we will have to focus our discussions on taking action." He also stated that it is not appropriate to make any commitments now, and doing so would be meaningless. Uncertainty is high, so too many options should not be ruled out prematurely. Of course, positive developments are hoped for.On May 24, the Russian Ministry of Defense stated that the Russian military used multiple types of missiles, including the Hazel, Iskander, Kinzhal, and Zircon, as well as attack drones, to hit targets including Ukrainian military-industrial complexes, military infrastructure, the headquarters of the Army General Staff, the headquarters of the Main Intelligence Directorate of the Ministry of Defense, and other Ukrainian military command posts. No civilian facilities were planned or targeted.German Chancellor Merz: Russia has once again used the Hazel missile system to attack Ukraine. The German government strongly condemns this reckless escalation.

AUD/USD Price Prediction: 0.6770 aims to recapture last week's high

Daniel Rogers

Dec 27, 2022 10:58

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During the Asian session, the AUD/USD pair broke above the thin consolidation around 0.6720. As market risk appetite rises, the Australian asset has surged over 0.6750 and is expected to reclaim the previous week's high around 0.6770.

 

In the meantime, the US Dollar Index (DXY) is experiencing firm resistance near the key level of 104.00, as a decrease in the United States Personal Consumption Expenditure (PCE)-Price Index has boosted expectations of less-hawkish monetary policy in the near future from the Federal Reserve (Fed).

 

Thursday's responsive buying activity in the Australian dollar at 0.6660 pushed the asset above the 50-period and 200-period Exponential Moving Averages (EMAs) at 0.6703 and 0.6717 respectively. After surpassing the previous week's peak of approximately 0.6770, the Australian Dollar will see significant increases.

 

In addition, the Relative Strength Index (14) has moved into the positive zone between 60.00 and 80.00, indicating the emergence of bullish momentum.

 

The Australian dollar will face round-level resistance and the high from December 14 around 0.6800 and 0.6880, respectively, after surpassing the previous week's high at 0.6770.

 

In contrast, a loss below the December 12 low of about 0.6630 will drive the asset towards the round-level resistance at 0.6600, followed by the November 8 high of about 0.6550.