AUDCAD Weekly Forex Forecast 10th December to 16th December by yshashmi37 on

Midterm forecast:

While the price is above the support 0.9425, continuation of uptrend is expected.
We make sure when the resistance at 0.9775 breaks.
If the support at 0.9425 is broken, the short-term forecast -continuation of uptrend- will be invalid.
Technical analysis:

The RSI resistance #1 at 53 is broken, so the probability of continuation of uptrend is increased.
While the RSI support #2 at 53 is not broken, the probability of price decrease would be too low.
A trough is formed in daily chart at 0.9525 on 11/23/2018, so more gains to resistance(s) 0.9610, 0.9670 and maximum to Major Resistance (0.9775) 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 52.

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