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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.

DateMarch 14, 2020 - 21:23
Currentdowntrend
Forecastcontinuation of downtrend

Midterm forecast:

  • 0.88350 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.

Technical analysis:

  • There is a divergence in RSI and price between the trough at 0.88865 on 2019-08-07 and the trough at 0.8639 on 2020-02-28, the probability of downtrend continuation is decreased and the probability of beginning the correction wave is increased.
  • A trough is formed in daily chart at 0.8640 on 02/28/2020, so more gains to resistance(s) 0.8580, 0.8640, 0.8795 and maximum to Major Resistance (0.8835) 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 33.

Supports and Resistances:

  1. 0.9915
  2. 0.9775
  3. 0.9610
  4. 0.9480
  5. 0.9395
  6. 0.9310
  7. 0.9145
  8. 0.9045
Click on the level to view price action history.