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Weekly forecast Australian Dollar / US Dollar technical chart
Symbol AUDUSD

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (0.7060 to 0.6990). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

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

  • Beginning of entry zone (0.7060)
  • Ending of entry zone (0.6990)

DateFebruary 12, 2022 - 18:21
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 0.69900, beginning of uptrend is expected.
  • We make sure when the resistance at 0.73120 breaks.
  • If the support at 0.69900 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • There is a divergence in RSI and price between the trough at 0.69923 on 2021-12-03 and the trough at 0.696329 on 2022-02-01, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
  • A peak is formed in daily chart at 0.7248 on 02/10/2022, so more losses to support(s) 0.7060 and minimum to Major Support (0.6990) 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 48.

Take Profits:

  1. 0.7170
  2. 0.7312
  3. 0.7393
  4. 0.7564
  5. 0.7655
  6. 0.7780
  7. 0.8005
Click on the level to view price action history.