GBPNZD Weekly Forex Forecast 1st December to 7th December by yshashmi37 on

Midterm forecast:

1.9245 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.
We will close our open trades, if the Midterm level 1.9245 is broken.
Technical analysis:

While the RSI resistance #1 at 49 is not broken, the probability of price increase would be too low.
A peak is formed in daily chart at 1.8985 on 11/22/2018, so more losses to support(s) 1.7900, 1.7440, 1.6705 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 28.

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