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Weekly forecast Australian Dollar / New Zealand Dollar technical chart
Symbol AUDNZD

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (1.0387 to 1.0281). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (1.0387)
  • Ending of entry zone (1.0281)

DateOctober 30, 2021 - 10:02
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 1.02810, beginning of uptrend is expected.
  • We make sure when the resistance at 1.06100 breaks.
  • If the support at 1.02810 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • While the RSI support #1 at 44 is not broken, the probability of price decrease would be too low.
  • A peak is formed in daily chart at 1.0611 on 10/12/2021, so more losses to support(s) 1.0434, 1.0387, 1.0347 and minimum to Major Support (1.0281) is expected.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 53.

Take Profits:

  1. 1.0529
  2. 1.0610
  3. 1.0710
  4. 1.0815
  5. 1.0945
Click on the level to view price action history.