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Weekly forecast Australian Dollar / US Dollar technical chart
Symbol AUDUSD

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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 - 19:59
Currentuptrend
Forecastcontinuation of uptrend

Midterm forecast:

  • 0.72350 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 0.70635 on 2020-06-10 and the peak at 0.7413 on 2020-09-01, the probability of uptrend continuation is decreased and the probability of beginning the correction wave is increased.
  • While the RSI support #1 at 51 is not broken, the probability of price decrease would be too low.
  • A peak is formed in daily chart at 0.7413 on 09/01/2020, so more losses minimum to Major Support (0.7235) is expected.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 55.

Supports and Resistances:

  1. 0.8135
  2. 0.7805
  3. 0.7675
  4. 0.7395
  5. 0.7235
  6. 0.6910
  7. 0.6825
  8. 0.6685
  9. 0.6555
  10. 0.6470
  11. 0.6285
  12. 0.6100
  13. 0.5510
Click on the level to view price action history.