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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)

DateDecember 5, 2022 - 21:10
Currentdowntrend
Forecastcontinuation of downtrend

Midterm forecast:

  • 1.08546 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.

Technical analysis:

  • While the RSI downtrend #1 is not broken, bearish wave in price would continue.
  • A peak is formed in daily chart at 1.10440 on 11/11/2022, so more losses to support(s) 1.05090, 1.04492, 1.03479 and more depths 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 17.

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.