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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.

DateDecember 10, 2018 - 07:20
Currentuptrend
Forecastcontinuation of uptrend

Midterm forecast:

  • While the price is above the support 0.94250, continuation of uptrend is expected.
  • We make sure when the resistance at 0.97750 breaks.
  • If the support at 0.94250 is broken, the short-term forecast -continuation of uptrend- will be invalid.

Technical analysis:

  • The RSI resistance #1 at 53 is broken, so the probability of continuation of uptrend is increased.
  • While the RSI support #2 at 53 is not broken, the probability of price decrease would be too low.
  • A trough is formed in daily chart at 0.9525 on 11/23/2018, so more gains to resistance(s) 0.9610, 0.9670 and maximum to Major Resistance (0.9775) 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 52.

Supports and Resistances:

  1. 1.0350
  2. 1.0245
  3. 0.9935
  4. 0.9775
  5. 0.9670
  6. 0.9610
  7. 0.9570
  8. 0.9525
  9. 0.9485
  10. 0.9375
  11. 0.9270
  12. 0.9170
Click on the level to view price action history.