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

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 uptrend #1 is broken, so the probability of beginning of uptrend is decreased.
A peak is formed in daily chart at 0.7395 on 12/04/2018, so more losses to support(s) 0.7175, 0.7105, 0.7085 and minimum to Major Support (0.7020) 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 46.

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