AUDUSD Weekly Forex Forecast 10th November to 16th November 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 resistance #1 at 56 is broken, so the probability of beginning of uptrend is increased.
A peak is formed in daily chart at 0.7300 on 11/08/2018, so more losses to support(s) 0.7180, 0.7105, 0.7085 and minimum to Major Support (0.7020) 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 57.

Share This