- During the Asian session this morning, the EURAUD fell to a new weekly low at 1.64926.
- During the Asian session this morning, the EURNZD retreated to 1.83400 and formed a weekly low there.
EURAUD Chart Analysis
During the Asian session this morning, the EURAUD fell to a new weekly low at 1.64926. After that, the pair managed to hold there and started a recovery to the level of 1.65680. Here, we found a new resistance and made a slight pullback to the level of 1.65450. We could soon test the EMA 50 moving average. A drop below that line would strengthen the bearish option, after which we can expect a return to this morning's support zone.
Possible lower targets are the levels of 1.64800 and 1.64600. We need a positive consolidation of EURAUD above the level of 1.65600 for a bullish option. Therefore, the pair rises to a new daily low and could test the weekly opening price at 1.65800. A new impulse would quickly take us to a new high and confirm the transfer to the bullish side. Possible upper targets are the levels of 1.66000 and 1.66200.
EURNZD Chart Analysis
During the Asian session this morning, EURNZD retreated to 1.83400 and formed a weekly low there. After that, we saw the start of a bullish consolidation to the level of 1.83940. There, we found a new resistance and returned to the downtrend. The EMA 50 moving average created additional pressure on the pair. EURNZD is once again looking towards the previous low and could slide towards a new one.
Possible lower targets are the levels of 1.83400 and 1.83200. For a bullish option, we need positive consolidation and a return above the level of 1.84000. With the new support of the EMA 50, we will have a new opportunity to start the recovery on the bullish side. Possible upper targets are the levels of 1.84200 and 1.84400. This week's high is another step up at 1.84533.
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(tags to translate) EUR/AUD
