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Weekly forecast New Zealand Dollar / Singapore Dollar technical chart
Symbol NZDSGD

Trading suggestion:

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

DateApril 17, 2022 - 11:37
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 0.96960, beginning of downtrend is expected.
  • We make sure when the support at 0.91165 breaks.
  • If the resistance at 0.96960 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • There is a divergence in RSI and price between the peak at 0.94351 on 2022-03-07 and the peak at 0.94732 on 2022-03-23, the probability of uptrend continuation is decreased and the probability of beginning of downtrend is increased.
  • A peak is formed in daily chart at 0.95195 on 04/05/2022, so more losses minimum to Major Support (0.91165) 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 36.