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Weekly forecast Australian Dollar / Singapore Dollar technical chart
Symbol AUDSGD

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Trading suggestion:

  • By appearing primary signs of entering the market, new entry zone and short-term targets would be published.

DateAugust 29, 2020 - 21:04
Currentuptrend
Forecastbeginning of downtrend

Midterm forecast:

  • 0.98850 is a major support, while this level is not broken, the Midterm wave will be uptrend.

Technical analysis:

  • There is a divergence in RSI and price between the peak at 0.9756 on 2020-06-09 and the peak at 0.9921 on 2020-07-22, the probability of uptrend continuation is decreased and the probability of beginning of downtrend is increased.
  • While the RSI support #1 at 52 is not broken, the probability of price decrease would be too low.
  • A trough is formed in daily chart at 0.9768 on 08/24/2020, so more gains to resistance(s) 1.0090, 1.0225, 1.0410 and more heights 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 71.

Supports and Resistances:

  1. 1.0920
  2. 1.0225
  3. 1.0090
  4. 0.9730
  5. 0.9640
  6. 0.9495
  7. 0.9400
  8. 0.9315
  9. 0.9100
Click on the level to view price action history.