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Weekly forecast Australian Dollar vs. US Dollar technical chart
Symbol AUDUSD

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Trading suggestion:

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

DateSat, 07/07/2018 - 19:38
Currentdowntrend
Forecastending of downtrend
Last weekBullish

Midterm forecast:

  • 0.7500 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.

Technical analysis:

  • There is a divergence in RSI and price between the trough at 0.741 on 2018-05-09 and the trough at 0.7325 on 2018-06-27, the probability of downtrend continuation is decreased and the probability of ending of downtrend is increased.
  • The RSI bounced from the support #1 at 28 and it prevented price from more losses.
  • While the RSI downtrend #2 is not broken, bearish wave in price would continue.
  • A trough is formed in daily chart at 0.7325 on 06/27/2018, so more gains maximum to Major Resistance (0.7500) 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 48.

Supports and Resistances:

  1. 0.6850
  2. 0.7160
  3. 0.7330
  4. 0.7500
  5. 0.7760
  6. 0.8065
  7. 0.8135
  8. 0.8320
  9. 0.8545
  10. 0.8660
  11. 0.8865
  12. 0.9035
  13. 0.9415
Click on the level to view price action history.