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On August 26, Huawei and HP Inc. announced the signing of a multi-year global patent cross-licensing agreement, which includes Huawei licensing certain WiFi patents to HP. Following the signing of the agreement, HP will pay patent fees to Huawei. To date, Huawei has signed more than 260 patent licensing agreements with major ICT manufacturers in the United States, Europe, Japan, and South Korea. 34 new patent licensing agreements are planned for 2025.On August 26, the State Council Information Office held a press conference on the theme of "Starting the 15th Five-Year Plan". Xin Guobin, Vice Minister of Industry and Information Technology, said that during the 15th Five-Year Plan period, efforts should be made to cultivate growth drivers, promote the deep integration of scientific and technological innovation and industrial innovation, develop new productive forces according to local conditions, adhere to the principle of "industry posing questions, science and technology answering questions", strengthen the construction of public technology service platforms, pilot testing platforms and other carriers, promote the rapid transition of original technologies to pilot testing and achieve large-scale application, actively explore and cultivate new scenarios, new business forms and new models, and expand the supply of high-quality products to meet the consumption needs of different groups.On August 26, the State Council Information Office held a press conference on the theme of "Starting the 15th Five-Year Plan." Xin Guobin, Vice Minister of Industry and Information Technology, stated that during the 15th Five-Year Plan period, significant efforts will be made to create a favorable ecosystem. We must act as a supportive "family member" for enterprises, implement key tasks for deepening reform, strengthen planning guidance, standardization, policy guarantees, and high-level opening-up and cooperation to create a sound industrial ecosystem. We must strengthen legislative research in emerging fields such as the digital economy and artificial intelligence, improve the mandatory standards system in the industrial and information technology sector, and use standards improvement to support the high-quality development of the industry. We must intensify efforts to clear overdue payments to enterprises, continue to implement special actions to reduce the burden on enterprises, and further enhance the sense of gain for enterprises, especially small and medium-sized enterprises.On August 26, Yao Jun, Director of the Planning Department of the Ministry of Industry and Information Technology, stated at a press conference held by the State Council Information Office that during the 15th Five-Year Plan period, we will organize and implement a revitalization action for traditional industries, strengthen the guidance of national standards, empower with digital and green technologies, and constrain environmental and safety regulations to consolidate the foundation, improve quality, build brands, and accelerate the improvement of the quality and efficiency of traditional industry development. First, we will focus on technological transformation. This is an important means to promote the transformation and upgrading of traditional industries. We will deepen the pilot projects for new technological transformation in manufacturing cities, strengthen technological innovation, equipment upgrading, and model innovation, and vigorously promote new technological transformation aimed at improving quality and efficiency, focusing on the application of digital and intelligent technologies and green and low-carbon technologies, to promote the intelligent, green, and integrated development of traditional industries. For example, in the petrochemical industry, we will accelerate the upgrading and transformation of old equipment, fully utilize digital and intelligent technologies and green technologies to effectively reduce safety and environmental risks, achieve synergistic effects in pollution reduction and carbon reduction, and promote high-quality development of the industry. Second, we will focus on standard improvement. We will implement an action to guide the optimization and upgrading of traditional industries through standard improvement. Third, we will focus on quality upgrading.On August 26, the National Food and Strategic Reserves Administration announced that the 11th APEC Ministerial Meeting on Food Security was held in Hangzhou, Zhejiang Province on August 25. The meeting adopted and released the "Principles Paper on Enhancing the Resilience of Food Systems in the Asia-Pacific Region through Innovation and Digitalization," calling on economies to apply innovative achievements and digital technologies such as artificial intelligence to improve decision-making capabilities, interconnectivity, and responsiveness across the entire food system chain. This aims to help food systems better anticipate risks, withstand shocks, adapt to changes, and restore production capacity, thereby improving operational efficiency and overall effectiveness.

AUD/USD Price Analysis: Bull Flag Breakout Requires a Retest to Near 0.7550

Larissa Barlow

Apr 06, 2022 10:02

  • The Australian bulls have gained strength as the RSI (14) has moved into a bullish zone of 60.00-80.00.

  • A re-test of the bullish flag formation will present market participants with an opportunity to buy at a discount.

  • The advance of the 20- and 50-EMAs bolsters the upside filters.

 

The AUD/USD pair has seen a meteoric rise after breaching the April 4 high of 0.7557, which has pushed the pair north, with the asset printing a new nine-month high of 0.7662 on Wednesday. Aussie bulls have been optimistic since March's lows of 0.7165. The pair has broken out of its consolidation phase, which was contained inside the range 0.7455-0.7541.

 

On a four-hour chart, AUD/USD is producing a bullish flag pattern, which indicates sideways movement following a strong run to the north and indicates the possibility of a new impulsive wave if consolidation breaks out firmly. Typically, a consolidation period is characterized by the placement of bids by investors who did not participate in the early surge and by those investors who choose to enter an auction after a bullish bias develops.

 

The increasing 20- and 50-period Exponential Moving Averages (EMAs) at 0.7550 and 0.7514, respectively, amplify the upside filters.

 

Meanwhile, the Relative Strength Index RSI (14) has shifted from 40.00-60.00 to a bullish range of 60.00-80.00, indicating a firmer upward advance in the near term.

 

A retest of the bullish upper boundary flag at 0.7541 will attract large buys from investors, propelling the pair toward Wednesday's high of 0.7662, followed by the 11 June 2021 high of 0.7776.

 

The greenback bulls, on the other hand, can regain power if the asset falls below the March 29 low of 0.7455, dragging it towards the March 10 high of 0.7369. If the latter is breached, the asset will continue to fall towards the round level support at 0.7300.

Four-Hour AUD/USD Chart

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