- During the Asian session this morning, the EURAUD retreated to a new weekly low at the 1.65363 level.
- A new weekly low was formed this morning at the 1.80960 level.
EURAUD Chart Analysis
During the Asian session this morning, the EURAUD retreated to a fresh weekly low at the 1.65363 level. After that, the pair managed to stabilize there and start a bullish consolidation. We have recovered to the 1.66050 level and we expect to see a continuation on the bullish side. The pair has solid momentum and with stronger momentum, it could easily cross the 200 EMA and the 1.64450 level.
With such a move, EURAUD would increase its chances of recovery next week. Possible upper targets are the 1.67000 and 1.67500 levels. For a bearish option, we need a negative consolidation and a pullback to this morning's support zone. With fresh pressure on this morning's low, the pair could build momentum below and form a fresh weekly low. Possible lower targets are the 1.65000 and 1.64500 levels.
EURNZD Chart Analysis
This morning, a new weekly low was formed at the level of 1.80960. After that, we saw the start of a bullish consolidation up to the level of 1.81580. There, we tested the daily opening price and, for now, we are staying below it. We need a new impulse that would move the pair up to a safer zone. Then, EURNZD would stabilize there to start a further recovery.
The higher potential targets are the levels of 1.82000 and 1.82500. Additional support is the EMA 50 at 1.82000, while the EMA 200 is in the area of 1.82500. For a bearish option, we need a negative consolidation and a further drop below 1.81000. This will definitely create a new weekly low. This confirms the bearish trend of this week. The lower potential targets are the levels of 1.80500 and 1.80000.
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(tags to translate) EUR/AUD
