AUDUSD Weekly Forex Forecast 21st October to 27th October by yshashmi37 on

Midterm forecast:

While the price is above the support 0.7040, beginning of uptrend is expected.
We make sure when the resistance at 0.7160 breaks.
If the support at 0.7040 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:

While the RSI resistance #1 at 55 is not broken, the probability of price increase would be too low.
A peak is formed in daily chart at 0.7160 on 10/17/2018, so more losses to support(s) 0.7085 and minimum to Major Support (0.7040) 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 45.

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