EURAUD and EURNZD: EURAUD finds support at 1.63200 level
- During this morning’s Asian session, EURAUD retreated to support at the 1.63100 level.
- Yesterday, we saw EURNZD fall to the 1.75262 support level.
EURAUD chart analysis
During this morning’s Asian session, EURAUD retreated to support at the 1.63100 level. We can say that we have seen a retest of the weekly open price at 1.63050. After that, the pair starts a bullish consolidation and rises to the 1.63600 level, forming a new daily high there. We have received support from the EMA200 moving average and expect to see further progress to the bullish side.
Potential higher targets are 1.63700 and 1.63800 levels. The EURAUD would have to drop back below the EMA200 and 1.63300 levels for a bearish option. This increases the bearish pressure, which would have a negative effect, and the pair would have to look for new support. Potential lower targets are 1.63200 and 1.63100 levels.
EURNZD chart analysis
Yesterday, we saw EURNZD fall to the 1.75262 support level. A new weekly low was formed where the pair managed to stop and start a recovery. We had a bullish consolidation up to the 1.76200 level. After that, there was a pullback to a new support at the 1.75600 level. During this morning’s Asian trading session, we are starting a new recovery, rising to 1.76000 levels. Good current momentum could push EURNZD to the next higher levels.
Potential higher targets are 1.76200 and 1.76400 levels. We need a negative consolidation and a return below 1.75800 and the EMA50 moving average for a bearish option. After that, we can expect a test of the daily open price at 1.75635. The continuation of bearish consolidation brings us to a new low. Potential lower targets are 1.75500 and 1.75400 levels.
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