- During the Asian session this morning, the EURAUD rose to 1.65819, forming a new weekly high there.
- During the Asian session this morning, the EURNZD came under pressure again, causing another pullback.
EURAUD Chart Analysis
During the Asian session this morning, the EURAUD rose to 1.65819, forming a new weekly high there. After that, the pair suddenly lost momentum and started a pullback. We have already seen a drop below the EMA 200 and 1.65500 levels. The inability to hold there only pushed the EURAUD to a new daily low of 1.65100. We are currently at the level of 1.65170 in the area of today's low. If we hold on to this for too long, it could only increase the pressure and send us to a new low.
Possible lower targets are the levels of 1.65000 and 1.64900. For a bullish option, the pair would have to stabilize in this zone before starting a recovery. With the return above 1.65400, we return to the positive side above the weekly opening price. Possible upper targets are the levels of 1.65600 and 1.65800.
EURNZD Chart Analysis
During the Asian session this morning, EURNZD came under pressure again, which led to another pullback. At 1.80449, we saw the formation of a daily low. At the moment, we are trying to hold at this level and prevent a further pullback. The pair has a new opportunity to start a new bullish consolidation and rise back to the level of 1.81000. With that move, we move above the daily opening level and the EMA 50 moving average.
Possible upper targets are the 1.81200 and 1.81400 levels. For a bearish option, EURNZD would need to continue the previous consolidation to today's low. This would allow us to retest that level in search of a new support. It is easily possible that we see a break below this level and the formation of a new low this time. Possible lower targets are the 1.80400 and 1.80300 levels.
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(tags to translate) EUR/AUD
