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Weekly forecast Australian Dollar / US Dollar technical chart
Symbol AUDUSD

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Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (0.6475 to 0.6570). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set sell orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (0.6475)
    • Support on 10/08/2008
    • Support on 10/15/2008
    • Support on 10/16/2008
    • Support on 10/29/2008
    • Support on 11/11/2008
    • Support on 11/14/2008
    • Resistance on 11/17/2008
    • Support on 11/25/2008
    • Support on 11/26/2008
    • Support on 11/27/2008
    • Support on 11/28/2008
    • Resistance on 12/02/2008
    • Resistance on 12/05/2008
    • Support on 12/09/2008
    • Support on 12/12/2008
    • Support on 01/22/2009
    • Support on 01/23/2009
    • Support on 01/26/2009
    • Support on 02/06/2009
    • Support on 02/10/2009
    • Support on 02/11/2009
    • Support on 02/12/2009
    • Support on 02/16/2009
    • Resistance on 02/19/2009
    • Resistance on 02/20/2009
    • Resistance on 02/23/2009
    • Resistance on 02/27/2009
    • Resistance on 03/03/2009
    • Resistance on 03/06/2009
    • Resistance on 03/10/2009
    • Support on 03/12/2009
    • Support on 02/28/2020
    • Support on 03/09/2020
    • Support on 03/10/2020
    • Support on 03/11/2020
    • Resistance on 04/27/2020
    • Support on 05/11/2020
  • Ending of entry zone (0.6570)
    • Support on 10/08/2008
    • Support on 10/13/2008
    • Support on 10/23/2008
    • Support on 10/31/2008
    • Support on 11/04/2008
    • Support on 11/07/2008
    • Resistance on 11/12/2008
    • Resistance on 11/17/2008
    • Resistance on 11/18/2008
    • Resistance on 11/19/2008
    • Resistance on 11/24/2008
    • Resistance on 11/25/2008
    • Resistance on 11/26/2008
    • Resistance on 11/27/2008
    • Resistance on 11/28/2008
    • Support on 12/09/2008
    • Support on 12/12/2008
    • Support on 01/13/2009
    • Support on 01/14/2009
    • Support on 01/15/2009
    • Resistance on 01/23/2009
    • Support on 01/27/2009
    • Resistance on 02/05/2009
    • Resistance on 02/11/2009
    • Resistance on 02/12/2009
    • Resistance on 02/13/2009
    • Resistance on 02/25/2009
    • Resistance on 02/26/2009
    • Resistance on 03/12/2009
    • Support on 03/17/2009
    • Support on 03/18/2009
    • Resistance on 02/27/2020
    • Resistance on 02/28/2020
    • Resistance on 03/02/2020
    • Support on 03/04/2020
    • Support on 03/09/2020
    • Peak on 04/30/2020
    • Resistance on 04/30/2020

DateMay 16, 2020 - 20:25
Currentrange bound
Forecastbeginning of downtrend
Last weekBearish

Midterm forecast:

  • While the price is below the resistance 0.6685, beginning of downtrend is expected.
  • We make sure when the support at 0.5975 breaks.
  • If the resistance at 0.6685 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • A trough is formed in daily chart at 0.6380 on 05/07/2020, so more gains to resistance(s) 0.6475, 0.6570 and maximum to Major Resistance (0.6685) 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 51.

Take Profits:

  1. 0.6385
  2. 0.6250
  3. 0.6085
  4. 0.5975
  5. 0.5870
  6. 0.5705
  7. 0.5510
Click on the level to view price action history.