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AUDCAD Weekly Forex Forecast 20th October to 26th 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 resistance #2 at 52 is not broken, the probability of price increase would be too low.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 53.
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