EURAUD and EURNZD: EURNZD stopped at 1.77000 this morning
- The EURAUD retreated to the 1.60434 level on Thursday, forming a weekly low.
- During this morning’s Asian trading session, EURNZD rose to 1.77000.
EURAUD chart analysis
The EURAUD retreated to the 1.60434 level on Thursday, forming a weekly low. The pair managed to gain support at that level and initiate a bullish consolidation. Again, we are above the weekly open price and looking at the 1.60750 level for support in the EMA50 moving average. If we succeed in this, we hope that the EURAUD will initiate a bullish consolidation above the EMA200 and 1.61000 levels.
Potential higher targets are 1.61200 and 1.61400 levels. We need a negative consolidation and a drop to the 1.60400 support level for a bearish option. With that, we move to the negative side, below the weekly open price. With the new impulse, we create a new weekly low and get confirmation of the bearish momentum. Potential lower targets are 1.60200 and 1.60000 levels.
EURNZD chart analysis
During this morning’s Asian trading session, EURNZD rose to 1.77000. However, this was not enough, and the pair lost its momentum, returning very quickly to the 1.76750 level. This morning’s high is just a lower high in this week’s streak. This tells us that there will be a pullback and the potential for the formation of a lower low compared to yesterday. Potential lower targets are the 1.76400 and 1.76200 levels.
Additional major support for EURNZD could be in the EMA200 moving average at 1.76300. If the Ukoko pair manages to stabilize at the current level, it could start a positive consolidation. A return to the 1.77000 zone would be a positive sign that we have the strength to continue above. Potential higher targets are 1.77200 in 1.77400 levels.
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