- This week's EURAUD movement took place in the range 1.62800-1.63800.
- During the Asian session this morning, the EURNZD found resistance at the 1.77200 level.
EURAUD Chart Analysis
This week, EURAUD has moved within the 1.62800-1.63800 range. This morning we were again close to the lower line of this range, reaching the level of 1.62900. However, the pair has started a bullish consolidation above the 1.63000 level, indicating a possible bullish move. We are currently at 1.63250 and testing the EMA200 moving average. To reach a new daily high, we need a new strong momentum.
If we manage to break above the EMA200, our possible highest targets are the 1.63400 and 1.63600 levels. However, if we don't do this, a setback is likely. In that case, we should keep an eye on the 1.62800 level, this week's support level. Any new pressure in that area could cause further volatility and push EURAUD to a new weekly low. Our possible lowest targets in this scenario are the 1.62600 and 1.62400 levels.
EURNZD chart analysis
During the Asian session this morning, the EURNZD found resistance at the 1.77200 level. The EMA200 moving average created additional pressure in that area, and that level is important for us because it is the weekly opening price. After that, the pair starts to retrace until reaching the support at the 1.76500 level. It manages to stabilize there and start an upward momentum. We are now in the area of 1.77000 levels supported by the EMA50 moving average.
We have a new attempt to test the weekly opening price and the EMA200 and surpass them. The possible highest targets are the 1.77400 and 1.77600 levels. We need a negative consolidation retracement below the 1.76800 level and the EMA50 moving average for a bearish option. After that, the EURNZD had to start to pull back and test this morning's support zone. The lowest possible targets are the 1.76400 and 1.76200 levels.
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