EURAUD and EURNZD: EURNZD moved to the bullish side
Since the start of this week, EURNZD has been in a bullish consolidation
EURAUD chart analysis
During this morning’s Asian trading session, the EURAUD started a bullish consolidation and climbed up to the 1.64200 level. With this step, we skipped the EMA 200 moving average. After that, the pair retreated slightly and is maintained above the 1.63800 level. We now see a new bullish consolidation initiation and expect another break above 1.64000 and the EMA 200 moving average.
Potential higher targets are 1.64400 and 1.64600 levels. For a bearish option, we need a negative consolidation and EURAUD fall below 1.63600. With that, we move to a new low and confirm the bearish momentum. That would bring us back to the weekly open price and the EMA 50 moving average. Potential lower targets are 1.63200 and 1.63000 levels.
EURNZD chart analysis
Since the start of this week, EURNZD has been in a bullish consolidation. In this morning’s Asian session, the pair gained new support at the 1.77500 level. Additional support here is the EMA 50 moving average. This led us to start further growth and climb up to the 1.78770 level. We managed to move above the EMA 200 moving average for a short time and went back below it again.
The positive is that we are holding above 1.78400, as we could initiate a new impulse above that level to a new high from there. Potential higher targets are the 1.79000 and 1.79200 levels. For a bearish option, we need a negative consolidation of EURNZD below the 1.78200 level. With that step, we will create a new low that would confirm the bearish momentum. Potential lower targets are the 1.78000 and 1.77800 levels.
