AUDUSD Weekly Forex Forecast 30 September to 6th October
Midterm forecast:
While the price is above the support 0.7085, beginning of uptrend is expected.
We make sure when the resistance at 0.7320 breaks.
If the support at 0.7085 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:
The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased.
A peak is formed in daily chart at 0.7305 on 09/21/2018, so more losses to support(s) 0.7160 and minimum to Major Support (0.7085) 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 47.
While the price is above the support 0.7085, beginning of uptrend is expected.
We make sure when the resistance at 0.7320 breaks.
If the support at 0.7085 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:
The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased.
A peak is formed in daily chart at 0.7305 on 09/21/2018, so more losses to support(s) 0.7160 and minimum to Major Support (0.7085) 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 47.
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