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NZDUSD Weekly Forex Forecast 1st December to 7th December by yshashmi37 on TradingView.com
Midterm forecast:
0.6430 is a major support, while this level is not broken, the Midterm wave will be uptrend.
Technical analysis:
The RSI resistance #1 at 59 is broken, so the probability of continuation of uptrend is increased.
While the RSI support #2 at 53 is not broken, the probability of price decrease would be too low.
A trough is formed in daily chart at 0.6705 on 11/13/2018, so more gains to resistance(s) 0.6910, 0.7025, 0.7175 and more heights 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 65.
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