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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 Sell Zone (1.11750 to 1.12550). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

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

  • Beginning of entry zone (1.11750)
  • Ending of entry zone (1.12550)

DateNovember 26, 2022 - 23:09
Currentrange bound
Forecastresumption of downtrend

Midterm forecast:

  • While the price is below the resistance 1.12550, resumption of downtrend is expected.
  • We make sure when the support at 1.07500 breaks.
  • If the resistance at 1.12550 is broken, the short-term forecast -resumption of downtrend- will be invalid.

Technical analysis:

  • While the RSI resistance #1 at 45 is not broken, the probability of price increase would be too low.
  • A peak is formed in daily chart at 1.10440 on 11/11/2022, so more losses minimum to Major Support (1.07500) 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 29.

Take Profits:

  1. 1.11118
  2. 1.09880
  3. 1.09190
  4. 1.07500
  5. 1.07106
  6. 1.05978
  7. 1.05090
  8. 1.04492
  9. 1.03479
Click on the level to view price action history.