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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.

DateOctober 17, 2020 - 21:50
Currentdowntrend
Forecastcontinuation of downtrend

Midterm forecast:

  • 1.10450 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.

Technical analysis:

  • While the RSI resistance #1 at 60 is not broken, the probability of price increase would be too low.
  • A peak is formed in daily chart at 1.0890 on 10/08/2020, so more losses to support(s) 1.0660, 1.0535, 1.0350 and more depths 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 37.

Supports and Resistances:

  1. 1.1455
  2. 1.1335
  3. 1.1140
  4. 1.1045
  5. 1.0945
  6. 1.0660
  7. 1.0350
  8. 1.0260
  9. 1.0155
  10. 1.0020
Click on the level to view price action history.