The AUD/CNH pair is showing signs of potential weakness. Traders are advised to consider short positions near the resistance level of 4.820, with the possibility of switching to long positions if this resistance is broken. Recent Chinese economic data has been weaker than expected, which has negatively impacted both the yuan and the Australian dollar, given their economic ties. Technical analysis suggests that if the Australian dollar continues to fall and breaches the support level around 4.786, it could lead to a significant downward trend. However, this information is general advice and not tailored to individual financial situations.

AUD/CNH Short-Term Trading Strategy

Sep 04 2024