NZDUSD Weekly Forex Forecast 6th October to 12th October by yshashmi37 on

Midterm forecast:

0.6700 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 0.6700 is broken.
Technical analysis:

While the RSI resistance #1 at 60 is not broken, the probability of price increase would be too low.
A peak is formed in daily chart at 0.6700 on 09/21/2018, so more losses to support(s) 0.6430, 0.6245, 0.5930 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 29.

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