AUDCAD Weekly Forex Forecast 1st December to 7th December by yshashmi37 on

Midterm forecast:

The current trend is uptrend and the forecast is continuation of uptrend.
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) 0.9810, 0.9935, 1.0245 and more heights 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 71.

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