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

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Trading suggestion:

  • We have already opened Buy trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.

DateJune 23, 2018 - 13:36
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast beginning of downtrend.

Technical analysis:

  • The RSI support #1 at 50 is broken, so the probability of beginning of downtrend is increased.
  • While the RSI downtrend #2 is not broken, bearish wave in price would continue.
  • A trough is formed in daily chart at 1.0660 on 06/19/2018, so more gains to resistance(s) 1.0760, 1.0825, 1.0925 and more heights 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 47.

Take Profits:

  1. 1.0660
  2. 1.0760
  3. 1.0825
  4. 1.0925
  5. 1.1050
  6. 1.1135
  7. 1.1280
  8. 1.1375
  9. 1.1645
  10. 1.1920
  11. 1.2340
Click on the level to view price action history.