- During the Asian session this morning, the EURAUD found support at the 1.61100 level.
- During the Asian session this morning, the EURNZD rose to 1.80000, a new July high.
EURAUD Chart Analysis
During the Asian session this morning, the EURAUD received support at the level of 1.61100. After that, a strong bullish momentum followed and a bullish consolidation started. The pair continued to rise in the European session and a new high was formed at the level of 1.61844. For now, we have resistance at that level and we have seen a slight pullback to the level of 1.61500. Here, we get new support and start a new recovery.
Possible upper targets are the levels of 1.61800 and 1.62000. We need a fresh negative consolidation and a drop below the previous low at 1.61500 for a bearish option. With that, we go to a new lower low and confirm the pressure on EURAUD. Possible lower targets are the levels of 1.61400 and 1.61200. Additional support at 1.61200 is the EMA 50 moving average, with a test of the daily opening price.
EURNZD Chart Analysis
During the Asian session this morning, EURNZD rose to 1.80000, a new July high. After that, we see a stop there and the pair is now starting a pullback from that level. We are currently at 1.79600 and we might see a drop to the level of 1.79340 on the daily opening price. If the pair finds new support there, it will be able to start a bullish consolidation and continue the previous trend.
Possible upper targets are the levels of 1.80000 and 1.80500. For a bearish option, we need a drop below the daily opening price and the level of 1.79300. After that, we look for the next support at 1.79100 on the EMA 50 moving average. Upon dropping below this level, EURNZD will lose its support and will be pressured to continue its pullback. Possible lower targets are the levels of 1.79000 and 1.78500.
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(tags to translate) EUR/AUD
