AUDUSD Weekly Forex Forecast 6th October to 12th October by yshashmi37 on TradingView.com


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Midterm forecast:

  • 0.7320 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.

Technical analysis:

  • The RSI bounced from the resistance #1 at 55 and it prevented price from more gains.
  • peak is formed in daily chart at 0.7305 on 09/21/2018, so more losses to support(s) 0.6825, 0.6280, 0.6000 and more depths 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 31.
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