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Weekly forecast Australian Dollar / New Zealand Dollar technical chart
Symbol AUDNZD

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Trading suggestion:

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

DateSeptember 19, 2020 - 19:43
Currentrange bound
Forecastcontinuation of downtrend

Midterm forecast:

  • While the price is below the resistance 1.08650, continuation of downtrend is expected.
  • We make sure when the support at 1.05350 breaks.
  • If the resistance at 1.08650 is broken, the short-term forecast -continuation of downtrend- will be invalid.

Technical analysis:

  • The RSI uptrend #1 is broken, so the probability of continuation of downtrend is increased.
  • A peak is formed in daily chart at 1.0936 on 09/10/2020, so more losses to support(s) 1.0660 and minimum to Major Support (1.0535) 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 38.

Supports and Resistances:

  1. 1.1140
  2. 1.0965
  3. 1.0800
  4. 1.0660
  5. 1.0350
  6. 1.0260
  7. 1.0155
  8. 1.0020
Click on the level to view price action history.