- EURAUD has been in sideways consolidation for the first four days of this week in the 1.65100-1.65600 range.
- The EURNZD rose to a new March high on Friday at 1.78854.
EURAUD Chart Analysis
EURAUD has been in sideways consolidation for the first four days of this week in the 1.65100-1.65600 range. During the Asian session this morning, there is a break above the upper channel level of 1.65600. The euro continued to strengthen against the Australian dollar in the EU session. We saw a retest of the 1.65600 level and after that a new bullish momentum towards the 1.66108 level. With that, we rise to a new weekly high.
The highest possible targets are the 1.66200 and 1.66300 levels. We need a pullback to the 1.65600 support level for a bearish option. There we also tested the EMA50 moving average, which a few hours ago supported us by retesting the breakout zone. Falling below, we return to the previous consolidation zone and the lowest potential targets are the 1.65500 and 1.65400 levels.
EURNZD chart analysis
The EURNZD rose to a new March high on Friday at 1.78854. Since the start of today's session, the pair has been in a strong uptrend. We started the Asian session at 1.77537, after which we rose to today's high with a strong bullish consolidation. Before that, we were in a sideways consolidation in the 1.77000-1.77900 range for four days. If the uptrend continues, the possible highest targets are the 1.79000 and 1.79100 levels.
First we need a negative consolidation and a pullback below the 1.78200 level for a bearish option. With that step, we would have moved significantly away from the previous high. That would increase bearish pressure on the euro to continue its retreat. The lowest possible targets are the 1.78000 and 1.78800 levels. The moving average EMA200 is located in the area around the level 1.77600.
!function (f, b, e, v, n, t, s) {
if (f.fbq) return;
n = f.fbq = function () {
n.callMethod ?
n.callMethod.apply(n, arguments) : n.queue.push(arguments)
};
if (!f._fbq) f._fbq = n;
n.push = n;
n.loaded = !0;
n.version = ‘2.0’;
n.queue = ();
t = b.createElement(e);
t.async = !0;
t.src = v;
s = b.getElementsByTagName(e)(0);
s.parentNode.insertBefore(t, s)
}(window, document, ‘script’,
‘https://connect.facebook.net/en_US/fbevents.js’);
fbq(‘init’, ‘504526293689977’);
fbq(‘track’, ‘PageView’);