- EURAUD retreated to the 1.60434 level on Thursday, forming a weekly low.
- During the Asian session this morning, the EURNZD rose to 1.77000.
EURAUD Chart Analysis
The EURAUD retreated to the 1.60434 level on Thursday, forming a weekly low. The pair managed to gain support at that level and start a bullish consolidation. Again, we are above the weekly opening price and are eyeing the 1.60750 level as support at the EMA50 moving average. If we succeed in this, we expect the EURAUD to start a bullish consolidation above the EMA200 and 1.61000 levels.
Possible upper targets are 1.61200 and 1.61400 levels. We need a negative consolidation and a drop to the support level of 1.60400 for a bearish option. With that, we move to the downside, below the weekly opening price. With the new momentum, we create a new weekly low and get confirmation of the bearish momentum. Possible lower targets are 1.60200 and 1.60000 levels.
EURNZD Chart Analysis
During the Asian session this morning, the EURNZD rose to 1.77000. However, this was not enough and the pair lost its momentum, very quickly returning to the level of 1.76750. This morning's high is just a lower high in this week's streak. This tells us that there will be a pullback and the possibility of a lower low forming compared to yesterday's. Possible lower targets are the levels of 1.76400 and 1.76200.
Another important support for EURNZD could be found at the EMA200 moving average at 1.76300. If the Ukoko pair manages to stabilise at the current level, it could start a positive consolidation. A return to the 1.77000 zone would be a positive sign that we have the strength to continue above. Possible upper targets are 1.77200 at 1.77400 levels.
!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’);
(tags to translate) EUR/AUD
