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Weekly forecast Australian Dollar / Canadian Dollar technical chart
Symbol AUDCAD

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Trading suggestion:

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

DateFebruary 8, 2020 - 19:54
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 0.88350, beginning of uptrend is expected.
  • We make sure when the resistance at 0.91450 breaks.
  • If the support at 0.88350 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • A peak is formed in daily chart at 0.8995 on 02/05/2020, so more losses minimum to Major Support (0.8835) 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 40.

Supports and Resistances:

  1. 0.9775
  2. 0.9610
  3. 0.9395
  4. 0.9310
  5. 0.9225
  6. 0.9145
  7. 0.9045
  8. 0.8980
Click on the level to view price action history.