EURAUD and EURNZD: EURAUD is back in the support zone

EURAUD chart analysis

During this morning’s Asian trading session, the EURAUD pulled back into this week’s support zone. A daily low was formed at the 1.65440 level. After that, we managed to stabilize as we did last time and slightly recover to the 1.65800 level. The current bullish momentum could push us to the 1.66000 level and bring us back to the weekly open price.

Additional pressure in that zone is in the EMA 200 moving average, and we need a break above it to get rid of the bearish pressure. Potential higher targets are the 1.66400 and 1.66600 levels. For a bearish option, we need a negative consolidation and a new return of EURAUD back to the 1.65400 level. Going down, the bearish momentum increases, and the pressure to continue the retreat increases. Potential lower targets are the 1.65200 and 1.65000 levels.

EURNZD chart analysis

On Thursday, EURNZD rose to a new weekly high of 1.83346. After that, the pair did not have the strength to continue and had to start a bearish consolidation. We found the first support at 1.82700 and the EMA 50 moving average. The pair recovers from there to 1.83500, where it encounters new resistance and forms a lower high compared to the day before. During this morning’s Asian trading session, EURNZD initiates a new pullback, falling to the 1.82300 level.

In this zone, we meet the EMA 200 moving average, which does not allow further retreat. Potential lower targets are the 1.82000 and 1.81500 levels. For a bullish option, we need a positive consolidation and a return above the 1.83000 level. The pair would thus trigger a recovery and strengthen the bullish momentum. Potential higher targets are the 1.83500 and 1.84000 levels.

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