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Weekly forecast New Zealand Dollar / Singapore 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.

DateMay 30, 2020 - 23:03
Currentrange bound
Forecastresumption of downtrend
Last weekBullish

Midterm forecast:

  • While the price is below the resistance 0.8965, resumption of downtrend is expected.
  • We make sure when the support at 0.8680 breaks.
  • If the resistance at 0.8965 is broken, the short-term forecast -resumption of downtrend- will be invalid.

Technical analysis:

  • While the RSI uptrend #1 is not broken, bullish wave in price would continue.
  • A trough is formed in daily chart at 0.8435 on 05/18/2020, so more gains to resistance(s) 0.8805 and maximum to Major Resistance (0.8965) 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 60.

Supports and Resistances:

  1. 0.9710
  2. 0.9480
  3. 0.9340
  4. 0.9205
  5. 0.9070
  6. 0.8965
  7. 0.8680
Click on the level to view price action history.