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EURAUD in a bearish trend, EURNZD above the 1.80000 level

EURAUD in a bearish trend, EURNZD above the 1.80000 level

Pair EURAUD was in a bearish trend from Tuesday to Thursday from 1.66800 to 1.64776. EURNZD continues today with consolidation in the zone above the 1.80000 level.

EURAUD chart analysis

Pair EURAUD was in a bearish trend from Tuesday to Thursday from 1.66800 to 1.64776. With that, we fall to a new weekly low. There, we find support and start a recovery above the 1.65000 level. During this morning’s Asian session, we first consolidated around the 1.65300 level. This was followed by a strong bullish impulse and growth above the 1.66000 level. We formed a daily high at the 1.66216 level.

EURUAD has been moving in the 1.65900-1.66200 range for a couple of hours, and we need a more concrete impulse up or down that would determine the trend. By breaking above 1.62000, we go to a new daily low and thereby confirm the bullish option. Potential higher targets are 1.66400 and 1.66600 levels. For a bearish option, we need a pullback below the 1.66000 level. After that, we look at the 1.65800 zone, where we encounter the EMA200 moving average.

EURNZD chart analysis

EURNZD continues today with consolidation in the zone above the 1.80000 level. A weekly high was formed at the 1.80317 level. The pair is still in a bullish mood, and we could expect to see it at higher levels. Potential higher targets are 1.80400 and 1.80500 levels. The previous attempt to break the 1.80400 level was on Wednesday. This was followed by bearish consolidation and a drop to the 1.78950 level, where we tested the weekly open price.

Now, we need another negative consolidation and a pullback below 1.80000 for a bearish option. Below, we would be under pressure to continue the decline and slip to the daily open price at the 1.79686 level. With fell below the EMA50 moving average we switched to the bearish side. Potential lower targets are 1.79600 and 1.79500 levels.

The post EURAUD in a bearish trend, EURNZD above the 1.80000 level appeared first on FinanceBrokerage.

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