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Weekly forecast Australian Dollar / Canadian Dollar technical chart

Trading suggestion:

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

DateMay 14, 2022 - 21:10
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 0.88980, resumption of uptrend is expected.
  • We make sure when the resistance at 0.94610 breaks.
  • If the support at 0.88980 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:

  • A peak is formed in daily chart at 0.92545 on 05/04/2022, so more losses minimum to Major Support (0.88980) 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. 0.99900
  2. 0.99000
  3. 0.97600
  4. 0.96500
  5. 0.95400
  6. 0.94610
  7. 0.93309
Click on the level to view price action history.