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Weekly forecast Australian Dollar / Singapore Dollar technical chart
Symbol AUDSGD

Trading suggestion:

  • By appearing primary signs of entering the market, new entry zone and short-term targets would be published.

DateMay 8, 2022 - 01:30
Currentrange bound
Forecastresumption of downtrend

Midterm forecast:

  • While the price is below the resistance 1.03135, resumption of downtrend is expected.
  • We make sure when the support at 0.94369 breaks.
  • If the resistance at 1.03135 is broken, the short-term forecast -resumption of downtrend- will be invalid.

Technical analysis:

  • While the RSI resistance #1 at 53 is not broken, the probability of price increase would be too low.
  • A peak is formed in daily chart at 0.99750 on 05/04/2022, so more losses to support(s) 0.97255, 0.96732, 0.95761 and minimum to Major Support (0.94369) is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 40.

Supports and Resistances:

  1. 1.05350
  2. 1.04150
  3. 1.03135
  4. 1.00000
  5. 0.98382
  6. 0.96732
Click on the level to view price action history.