- During the Asian session this morning, the EURAUD retreated to the 1.65250 level.
- During the Asian session this morning, the EURNZD rose to a new weekly high of 1.84514.
EURAUD Chart Analysis
During the Asian session this morning, the EURAUD retreated to the 1.65250 level. There, we found the EMA 50 moving average, which gave us support. Since then, we have been on a slight recovery to the 1.65550 levels. The pair has remained under bearish pressure since yesterday, and we are now monitoring whether it will manage to hold above this morning’s low. A renewed pressure on it could produce a push below and form a new low.
Possible lower targets are the 1.65000 and 1.64500 levels. If the support holds, the EURAUD will have a chance to start a positive consolidation and return to the bullish side. Crossing the 1.66000 level takes us to a new daily high and confirms our claims that the recovery continues. Possible upper targets are the 1.66500 and 1.67000 levels.
EURNZD Chart Analysis
During the Asian session this morning, EURNZD rose to a new weekly high of 1.84514. After that, we see a stop there, which led to a drop to the support level of 1.83700. We remain above the EMA 50 moving average, which shows a strong bullish bias. The pair starts a bullish consolidation from the support level and rises again to the level of 1.84500. We need another push to rise to a new weekly high.
Possible upper targets are the 1.85000 and 1.85500 levels. For a bearish option, EURNZD would have to break below the EMA 50 moving average and the 1.83500 level. Therefore, we will see a breakout of the previous bullish formation, which will increase the bearish pressure. After that, the pair would have to start retreating to lower levels. Possible lower targets are the 1.83000 and 1.82500 levels.
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(tags to translate) EUR/AUD
