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AUDUSD Weekly Forex Forecast 25th November to 1st December by yshashmi37 on TradingView.com
Midterm forecast:
While the price is above the support 0.7020, beginning of uptrend is expected.
We make sure when the resistance at 0.7445 breaks.
If the support at 0.7020 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:
The RSI resistance #1 at 56 is broken, so the probability of beginning of uptrend is increased.
While the RSI uptrend #2 is not broken, bullish wave in price would continue.
A trough is formed in daily chart at 0.7165 on 11/13/2018, so more gains to resistance(s) 0.7320 and maximum to Major Resistance (0.7445) 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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