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AUDCHF Weekly Forex Forecast 14th October to 20th October by yshashmi37 on TradingView.com
Midterm forecast:
While the price is above the support 0.6870, beginning of uptrend is expected.
We make sure when the resistance at 0.7145 breaks.
If the support at 0.6870 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:
The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased.
The RSI bounced from the resistance #2 at 58 and it prevented price from more gains.
A peak is formed in daily chart at 0.7065 on 10/10/2018, so more losses to support(s) 0.6945 and minimum to Major Support (0.6870) 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 52.
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