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On April 18, it was learned from the Ministry of Public Security that on April 17, eight departments—the State Taxation Administration, the Ministry of Public Security, the Supreme Peoples Court, the Supreme Peoples Procuratorate, the Peoples Bank of China, the General Administration of Customs, the State Administration for Market Regulation, and the State Administration of Foreign Exchange—held a national meeting in Beijing on April 16 to promote the normalized joint crackdown on tax-related crimes. The meeting discussed and deployed key tasks for the next stage, focusing on promoting the normalized joint crackdown mechanism on tax-related crimes to play a greater role, effectively safeguarding a fair and law-based economic and tax order, and better serving high-quality development. The meeting emphasized that all departments should strengthen the construction of a full-chain, integrated crackdown mechanism from administrative law enforcement to criminal justice; deepen multi-departmental data sharing, information exchange, joint analysis, and coordinated crackdowns; intensify efforts to combat tax-related crimes such as invoice violations, export tax fraud, and fraudulent tax benefits; strengthen case-based tax education and legal interpretation; continuously strengthen warnings and deterrence; and continuously improve the effectiveness of joint punishment, further creating a new situation in the joint crackdown on tax-related crimes by the eight departments.On April 18, Turkish Foreign Minister Fedan stated that Israel uses security as a pretext to seize more land, but true peace requires an end to the use of force against other countries. AFP reported that Fedan, speaking at the Antalya Diplomatic Forum in Turkey, said, "Israel is not pursuing its own security, but more land. The Netanyahu government is using security as a pretext to occupy more land." "Israel has created a false impression internationally, claiming it is acting for its own security. But the facts are very clear, especially in recent years… its aims go far beyond that," Fedan said.U.S. Central Command: Since the blockade began, 23 ships have turned back at the direction of the U.S. military.German Finance Minister: Structural reforms are a certainty.German Finance Minister: Germany has indicated its willingness to cooperate with the Global South on the issue of UN Security Council reform.

AUD/USD However, 0.6700 is the key to the upside

Daniel Rogers

Apr 11, 2023 14:41

AUD:USD.png 

 

In the early hours of Tuesday morning in Asia, the AUD/USD receives bids near 0.6650 to recover recent losses. In doing so, the Aussie pair recovers from the lowest levels in two weeks while reversing course from the horizontal support that has been in place for 12 days around 0.6620.

 

Nonetheless, imminent bearish MACD signals and a stable RSI indicate that the AUD/USD pair will continue to decline.

 

The convergence of the 10-day moving average and the support-turned-resistance line from March 10, close to the round number 0.6700, may also threaten the most recent price recovery.

 

Even if the AUD/USD bulls are able to surpass 0.6700, the 50% Fibonacci retracement level of the pair's February-March decline, located around 0.6805, will serve as the final line of defense for the bears.

 

Alternately, a break below 0.6620 could initiate a new decline aiming for the Year-to-Date (YTD) low established in February around 0.6565.

 

Notably, the AUD/USD pair's decline beyond 0.6565 confronts multiple obstacles to the south, including the highs for October 2022 near 0.6545 and 0.6520.

 

After that, a decline to the November 2022 low of approximately 0.6275 cannot be ruled out.

 

Regardless of the recent corrective rally, the AUD/USD remains on the radar of skeptics.


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