AUDUSD Weekly Forex Forecast 23rd September To 28th September
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 trough is formed in daily chart at 0.7140 on 09/17/2018, so more gains maximum to Major Resistance (0.7320) 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 55.
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 trough is formed in daily chart at 0.7140 on 09/17/2018, so more gains maximum to Major Resistance (0.7320) 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 55.
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