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Weekly forecast Australian Dollar / US Dollar technical chart

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Trading suggestion:

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

DateFebruary 8, 2020 - 20:00
Currentrange bound
Forecastbeginning of uptrend
Last weekBearish

Midterm forecast:

  • While the price is above the support 0.6660, beginning of uptrend is expected.
  • We make sure when the resistance at 0.7030 breaks.
  • If the support at 0.6660 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • A peak is formed in daily chart at 0.6775 on 02/05/2020, so more losses minimum to Major Support (0.6660) 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.

Supports and Resistances:

  1. 0.8135
  2. 0.7805
  3. 0.7675
  4. 0.7395
  5. 0.7200
  6. 0.7080
  7. 0.6940
  8. 0.6865
  9. 0.6825
Click on the level to view price action history.