hEURAUD and EURNZD: EURAUD rises to 1.63950 this morning
- EURAUD managed to climb to 1.63954 levels this morning, to a new weekly high.
- On Wednesday, we saw a strong bearish impulse of EURNZD from 1.78200 to 1.76559 level.
EURAUD chart analysis
This morning EURAUD managed to climb to 1.63954 levels, to a new weekly high. After that, the pair made a pullback to the daily open price at the 1.63700 level. We are now putting pressure on this level, which could lead to a drop below to a new daily low. Giving us the support of the current bearish momentum. Potential lower targets are 1.63600 and 1.63500 levels.
The first major support is at 1.63500 in the EMA50 moving average. For a bullish option, we need the initiation of a positive consolidation and a return above the 1.63800 level. This moves us into the zone of this week’s high. A new impulse would push us to form a new high, extending the bullish consolidation. Potential higher targets are 1.64000 and 1.64200 levels.
EURNZD chart analysis
On Wednesday, we saw a strong bearish impulse of EURNZD from 1.78200 to 1.76559 level. During this morning’s Asian trading session, the pair was maintained above the 1.77200 level. There we also test the weekly open price support. On the upside, we have resistance at the 1.77600 level and need a more stable bullish consolidation to move above that level. After that, we can expect to start further recovery.
Potential higher targets are 1.77800 and 1.78000 levels. Additional resistance is the EMA200 in the 1.77800 zone. We need a negative consolidation below 1.77200 of this week’s open price for a bearish option. With that step, we return to the bearish side. In the future, EURNZD will be forced to search for a new support level. Potential lower targets are 1.77000 and 1.76800 levels.
