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Weekly forecast Australian Dollar / Canadian Dollar technical chart
Symbol AUDCAD

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Trading suggestion:

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

DateAugust 10, 2019 - 19:00
Currentrange bound
Forecastbeginning of uptrend
Last weekBearish

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast a downtrend wave below 0.9105 would begin in Midterm.

Technical analysis:

  • While the RSI downtrend #1 is not broken, bearish wave in price would continue.
  • A peak is formed in daily chart at 0.9246 on 07/23/2019, so more losses to support(s) 0.8920, 0.8870, 0.8675 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 34.

Supports and Resistances:

  1. 1.0350
  2. 1.0090
  3. 0.9915
  4. 0.9775
  5. 0.9610
  6. 0.9480
  7. 0.9395
  8. 0.9310
  9. 0.9225
Click on the level to view price action history.