EURAUD and EURNZD: EURNZD is rising to a two-month high
- During this morning’s Asian trading session, EURAUD received support at the 1.61100 level.
- During this morning’s Asian trading session, EURNZD rose to 1.80000, a new July high.
EURAUD chart analysis
During this morning’s Asian trading session, EURAUD received support at the 1.61100 level. After that, a strong bullish impulse followed, and a bullish consolidation began. The pair continued to rise in the EU session, and a new high was formed at the 1.61844 level. For now, we have resistance at that level and have seen a slight pullback to the 1.61500 level. Here, we get new support and start a new recovery.
Potential higher targets are 1.61800 and 1.62000 levels. We need a new negative consolidation and a drop below the previous low at 1.61500 for a bearish option. With that, we go to a new lower low and confirm the pressure on the EURAUD. Potential lower targets are 1.61400 and 1.61200 levels. Additional support at 1.61200 is the EMA 50 moving average, with testing the daily open price.
EURNZD chart analysis
During this morning’s Asian trading session, EURNZD rose to 1.80000, a new July high. After that, we see a stop there, and the pair is now initiating a pullback from that level. We are currently at 1.79600, and it is possible that we will see a drop to the 1.79340 level at the daily open price. If the pair gets new support there, it will be able to start a bullish consolidation and continue with the previous trend.
Potential higher targets are the 1.80000 and 1.80500 levels. For a bearish option, we need a drop below the daily open price and the 1.79300 level. After that, we look for the next support at 1.79100 on the EMA 50 moving average. By falling below it, the EURNZD will lose its support and be under pressure to continue its further pullback. Potential lower targets are the 1.79000 and 1.78500 levels.
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