when the descending channel was broken and a derivative was formed, the pound gradually began to rebound from the lows that were last seen in May 2020 and began to try to return to 1.29-1.32. Fixing above the middle of the channel and the 20-day moving average is a positive signal for bullish traders. The next technical milestone is 1.27-1.2725, where both the 50-day slide and resistance from September 2020 pass. If the pound fixes above this level, the road to $1.3 will open, but given the gradual transition to overbought, which may occur when the level of 1.27 is broken, this process may stretch until the end of June at best. But so far, the prospects for a reversal are quite good.

On May 3, the Australian Central Bank raised the refinancing rate immediately by 0.25% to 0.35%, although forecasts converged at 0.25%. After spending about a week to digest the new conditions, the market first reached the strongest support of June 2020 at 0.68, then reversed and approaches 0.72. The nearest resistance for this pair is around 0.725, then 0.727-0.7275. After overcoming this mark, a sharp exit to the highs of this year in the area of 0.75 is possible.

Now the Australian currency is at the top of the downward channel, which started in March 2021, and the exit from it can give impetus to growth from the current 0.73 to 0.80 in a fairly short period of time, no more than two months. Fundamentally, the Australian economy feels great even against the background of China's refusal from Australian coal - deliveries to other countries of Southeast Asia and India have begun. The global financial crisis or a major natural calamity might stifle growth, causing the Australian dollar to slip back into the 0.55 range.