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AUDCAD Weekly Forex Forecast 13th October to 19th October by yshashmi37 on TradingView.com
Midterm forecast:
While the price is above the support 0.9105, beginning of uptrend is expected.
We make sure when the resistance at 0.9325 breaks.
If the support at 0.9105 is broken, the short-term forecast -beginning of uptrend- will be invalid.
We will close our open trades, if the Midterm level 0.9325 is broken.
Technical analysis:
The RSI bounced from the support #1 at 25 and it prevented price from more losses.
While the RSI downtrend #2 is not broken, bearish wave in price would continue.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 45.
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