EURAUD and EURNZD: EURNZD is back above the 1.80500 level
- The first two days of this week are positive for EURAUD.
- EURNZD rose to 1.80709 levels today, a new weekly high.
EURAUD chart analysis
The first two days of this week are positive for EURAUD. On Monday morning, we had a short-term pullback to the 1.64200 level, after which the pair stabilised and initiated a bullish consolidation. By crossing above the 1.64600 level, we get the support of the EMA200 moving average. Below, we climb up to the 1.64900 level. During this morning’s Asian trading session, we saw a new impulse to continue to the bullish side.
That pushes us above the 1.65000 level all the way to a new weekly high at 1.65776. we remain in a strong bullish consolidation and expect continuation to the next higher level. Potential higher targets are 1.65800 and 1.66000 levels. We need a negative consolidation and pullback down to the 1.65200 level for a bearish option. So we’re back in the support zone, and if it doesn’t hold, we’ll have to continue below.
EURNZD chart analysis
EURNZD rose to 1.80709 levels today, a new weekly high. We have been in a stable bullish trend since Friday, and the recovery was strengthened on Monday after crossing above the EMA200 moving average. The pair again returned above the 1.8000 level after ten days. If this trend continues, we can expect to see further recovery to the bullish side.
Potential higher targets are 1.80800 and 1.81000 levels. We need a negative consolidation and pullback to the 1.80000 support level for a bearish option. There we also test the daily open price, because if it falls below, we move to the negative side. Potential lower targets are 1.79800 and 1.79600 levels. In the zone around the 1.79600 level, we encounter the EMA200 moving average, which could have a positive effect and stop the pullback.
