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Weekly forecast British Pound / Australian Dollar technical chart

Trading suggestion:

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

DateAugust 14, 2022 - 22:20
Forecastcontinuation of downtrend

Midterm forecast:

  • 1.72611 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.

Technical analysis:

  • While the RSI resistance #1 at 60 is not broken, the probability of price increase would be too low.
  • A peak is formed in daily chart at 1.76515 on 08/02/2022, so more losses to support(s) 1.68600, 1.65500, 1.61600 and more depths 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 32.

Supports and Resistances:

  1. 1.92135
  2. 1.89575
  3. 1.87528
  4. 1.83859
  5. 1.81515
  6. 1.79830
  7. 1.76973
  8. 1.75116
Click on the level to view price action history.