AUDNZD Weekly Forex Forecast 20th October to 26th October by yshashmi37 on

Midterm forecast:

1.1140 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.
Technical analysis:

The ascending flag taking shape suggests we will soon see another leg higher.
While the RSI resistance #1 at 58 is not broken, the probability of price increase would be too low.
The RSI uptrend #2 is broken, so the probability of continuation of downtrend is increased.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 34.

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