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Weekly forecast Australian Dollar / Singapore Dollar technical chart
Symbol AUDSGD

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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 - 19:58
Currentuptrend
Forecastcontinuation of uptrend

Midterm forecast:

  • 0.98850 is a major support, while this level is not broken, the Midterm wave will be uptrend.

Technical analysis:

  • There is a divergence in RSI and price between the peak at 0.9756 on 2020-06-09 and the peak at 1.00525 on 2020-08-31, the probability of uptrend continuation is decreased and the probability of beginning the correction wave is increased.
  • While the RSI support #1 at 52 is not broken, the probability of price decrease would be too low.
  • A peak is formed in daily chart at 1.0050 on 08/31/2020, so more losses minimum to Major Support (0.9885) 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 50.

Supports and Resistances:

  1. 1.0920
  2. 1.0225
  3. 1.0050
  4. 0.9730
  5. 0.9640
  6. 0.9495
  7. 0.9400
  8. 0.9315
  9. 0.9100
Click on the level to view price action history.