NZDUSD Weekly Forex Forecast 10th December to 16th December by yshashmi37 on

Midterm forecast:

0.6430 is a major support, while this level is not broken, the Midterm wave will be uptrend.
Technical analysis:

There is a divergence in RSI and price between the trough at 0.6883 on 2018-11-16 and the trough at 0.6969 on 2018-12-04, the probability of downtrend continuation is decreased and the probability of continuation of uptrend is increased.
While the RSI support #1 at 55 is not broken, the probability of price decrease would be too low.
A peak is formed in daily chart at 0.6970 on 12/04/2018, so more losses to support(s) 0.6800, 0.6765, 0.6700 and minimum to Major Support (0.6430) 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 61.

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