The Australian dollar has rebounded from the two-and-a-half lows in the short-term, and the short-term or the bottom of the opportunity;
1)the Australian dollar against the US dollar fell to a 32-month low of 0.7041 at the end of the Asian market on Monday, recorded an oversold rebound, and rose to 0.7080 in the late New York session. 'In the day, the cumulative increase was about 0.4%; earlier.
- the Australian dollar exchange rate was slightly under pressure in the context of the opening of the Chinese stock market and the onshore RMB exchange rate, but then it ignored the further fermentation of risk aversion, but gradually recovered, showing investment. They still have confidence in China's new round of economic stimulus measures. At the same time, the Australian dollar has also faced a rebound in technical demand after the previous oversold;
after that, there will be more economic confidence indicators released by Australia on Tuesday, which is expected to further guide the direction of the Australian dollar exchange rate.
3)If the exchange rate can hold the 0.7050 support level, then The market may rebound further in the bottom of the market, but first of all, it is still necessary to break through the short-line dense resistance area of the 0.71 line.
