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Weekly forecast Australian Dollar / US Dollar technical chart
Symbol AUDUSD

Trading suggestion:

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

DateNovember 28, 2021 - 18:25
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 0.71050, resumption of uptrend is expected.
  • We make sure when the resistance at 0.72510 breaks.
  • If the support at 0.71050 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:

  • The RSI uptrend #1 is broken, so the probability of resumption of uptrend is decreased.
  • A peak is formed in daily chart at 0.7368 on 11/16/2021, so more losses minimum to Major Support (0.7105) 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 26.

Supports and Resistances:

  1. 0.6825
  2. 0.6685
Click on the level to view price action history.