Connect with us

Hi, what are you looking for?

Economy

EURAUD and EURNZD: EURNZD on the way to 1.75000 support

EURAUD and EURNZD: EURNZD on the way to 1.75000 support

  • The EURAUD made a significant move yesterday, retreating to a new low at the 1.62610 level.
  • During this morning’s Asian trading session, the EURNZD continued its bearish consolidation, a trend that requires careful consideration. 

EURAUD chart analysis

The EURAUD made a significant move yesterday, retreating to a new low at the 1.62610 level. This was a notable event, indicating a potential shift in the market. This morning in the Asian session, we witnessed a recovery to 1.63300 levels, but the pair encountered the EMA200 moving average and initiated a new pullback. The pair has now retreated below the daily open price, moving to the negative side. It is currently at the 1.62785 level and close to revisiting yesterday’s low.

Potential lower targets are 1.62600 and 1.62400 levels. We need a positive consolidation and a return above the 1.63000 level for a bullish option. Then, we have to stay there in order to wait for a new impulse to continue to the bullish side. Potential higher targets are 1.63200 and 1.63400 levels.

EURAUD chart analysis

 

EURNZD chart analysis

During this morning’s Asian trading session, the EURNZD continued its bearish consolidation, a trend that requires careful consideration. We saw a break below yesterday’s support at the 1.75500 level, and a new weekly low was formed at the 1.75238 level. There are good chances for a further retreat to a new lower low. Potential lower targets are 1.75000 and 1.74800 levels, indicating the need for caution in the current market conditions.

For a bullish option, we need the initiation of a positive consolidation and a return above the 1.75600 level, which is a key resistance level. After that, the pair would have to stabilize there before continuing to the bullish side. Potential higher targets are 1.75800 and 1.76000 levels, which are significant resistance levels. We could encounter higher resistance at 1.76200 in the EMA200 moving average.

EURNZD chart analysis

 

The post EURAUD and EURNZD: EURNZD on the way to 1.75000 support appeared first on FinanceBrokerage.

You May Also Like

Economy

RBI Maintains Key Interest Rate at 6.50%, Focuses on Growth Quick Look: Unchanged Repo Rate: RBI kept the key interest rate at 6.50% for...

Economy

EUR/USD Up On ECB’s 25 BPS Rate Reduction ECB Rate Cut: ECB Lowered The Main Refinancing Rate To 4.25% And Deposit Facility Rate To...

Investing

Walmart on Wednesday said it will offer new training programs and certifications to fill high-demand roles across its business, such as HVAC technicians, opticians and software...

Economy

Crypto Market Cap Rises 1.7%, Reaching $2.61 Trillion Quick Look: Market Surge: Crypto market capitalization hits $2.61 trillion, reflecting 1.7% growth. Bitcoin Milestone: BTC...

Disclaimer: Margininsiders.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2024 Margininsiders.com