EURAUD in a bullish consolidation, EURNZD at the new high
- Since the start of this week, the pair EURAUD has been in a stable bullish consolidation.
- EURNZD climbed to a new weekly high this morning at the 1.81357 level.
EURAUD chart analysis
Since the start of this week, the pair EURAUD has been in a stable bullish consolidation. During this morning’s Asian trading session, we climbed to a new weekly high at 1.66822. After that, the pair makes a pullback to support at the 1.65800 level. This is where we come across the EMA50 moving average, which provides additional support. EURAUD starts a new recovery from that place and rises to the 1.66200 level.
We expect to see further positive consolidation. Potential higher targets are 1.66400 and 1.66600 levels. We need a negative consolidation and a new pullback to the 1.65800 level for a bearish option. The next step is a break below the 1.65600 level. With that, we go to a new daily low and confirm that we are under pressure. Potential lower targets are 1.65400 and 1.65200 levels.
EURNZD chart analysis
EURNZD climbed to a new weekly high this morning at the 1.81357 level. After which there is a saturation in that zone and the initiation of a pullback to the 1.80600 support level. A new positive consolidation was initiated from this support level, pushing us to the 1.81000 level. We now expect to move into a continuation on the bullish side and test the previous high. Potential higher targets are 1.81200 and 1.81400 levels.
EURNZD should first break below the 1.08600 support level for a bearish option. With that step, we descend to a new low, which indicates that the euro is under pressure and that we expect a retreat. Potential lower targets are 1.80400 and 1.08200 levels. Additional support in the 1.80400 zone is the EMA50 moving average.
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