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Weekly forecast Australian Dollar / US Dollar technical chart
Symbol AUDUSD

Trading suggestion:

Price is in the Trend Hunter Buy Zone (0.7252 to 0.7220).

We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (0.7252)
  • Ending of entry zone (0.7220)

DateNovember 20, 2021 - 21:54
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 0.75640 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 to support(s) 0.7220 and 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 34.

Take Profits:

  1. 0.7338
  2. 0.7407
  3. 0.7480
  4. 0.7564
  5. 0.7606
  6. 0.7655
  7. 0.7780
  8. 0.7850
  9. 0.8005
Click on the level to view price action history.