Daily Technical Analysis

Introduction: 

Welcome to our daily technical analysis of the financial markets, focusing today on AUD/USD and Crude Oil. Let's dissect the latest news, market trends, and crucial price levels to watch out for.  

1. AUD/USD Analysis:  

News Summary: 

Rising domestic interest rates in Australia will put tremendous pressure on the country's economy. Australia has not been immune to the impact of the global economic weakness， so the Australian dollar has fallen for the fifth consecutive trading day. Although the RBA's policy sounds tough, investors have provided few supports for the Australian dollar and still believe that the actual possibility of raising interest rates is very small and will not be until February next year at the earliest.  

Trend Analysis: 

We can see AUD/USD touched bottom and then rebounded, MACD has formed a golden cross below the zero axis and begun to move toward 48 hours moving average on H4 chart. However, if US CPI data in October boosts the US dollar, the Australian dollar will continue to fall. As a result, the conservative strategy is to set sell limit, stop loss is necessary.   

Today's Key Price Levels: 

Key Support Levels: [0.6270] 

Key Resistance Levels: [0.6470] 

Pivot Points [0.6400]

2. Crude Oil Analysis:  

News Summary: 

The global economic situation is complex, Europe may fall into recession, the United States faces uncertainty in the next year, and China's economic data is weak. Current market conditions require a potential rebound to prevent oil prices from falling further. One aspect worth considering is the growing expectations of an impending recession, which is impacting trading sentiment. In addition, the containment of tensions in the Middle East has also contributed to the current situation in the oil market.  

Trend Analysis: 

We can see crude oil fluctuated upward after the correction on H4 chart. On the other hand, MACD double line is approaching zero axis, the market appears to have reached oversold state, which may lead to bargain hunting. A strong breakthrough above 83 marks would reignite interest in long positions in the market. The buy limit is reasonable tactic, stop loss is compulsory.    

Today's Key Price Levels: 

Key Support Levels: [75.00] 

Key Resistance Levels: [83.00] 

Pivot Points [77.00]