Economy

EURAUD and EURNZD: EURAUD slipped to 1.62915 yesterday

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EURAUD and EURNZD: EURAUD slipped to 1.62915 yesterday

On Monday, EURAUD fell to support at 1.62915 level. 
EURNZD pulled back to the 1.79230 support level yesterday.

EURAUD chart analysis

On Monday, EURAUD fell to support at 1.62915 level. After that, we saw consolidation in the 1.63000-1.63400 range. During this morning’s Asian trading session, the pair made a strong bullish impulse and broke above the 1.63700 level and the weekly open price. There we get additional support in the EMA50 moving average and continue all the way to the 1.64190 level.

We expect to see continued growth until the end of the day, and potential higher targets are 1.64200 and 1.64400 levels. The next higher resistance could be found in the EMA200 at the 1.64400 level. We need a negative consolidation and pullback below the 1.64000 level for a bearish option first.

After that, we again look at the support zone at the weekly open price. By falling below, we move to the bearish side and expect further retreat. Potential lower targets are 1.63400 and 1.63200 levels.

EURNZD chart analysis

EURNZD pulled back to the 1.79230 support level yesterday. After successfully gaining support in that zone, we saw the initiation of a bullish consolidation above the 1.80000 level this morning. There, we get an additional EMA200 support and continue even higher to the 1.80500 level. We managed to jump over Friday’s EURNZD high. Potential higher targets are 1.80600 and 1.80800 levels.

We need a new negative consolidation and pullback below the 1.80200 support zone for a bearish option. Falling below it, we move to 1.80000 and test the EMA200 moving average. If the retreat continues, here we are at a new low, thus confirming the bearish momentum. Potential lower targets are 1.79800 and 1.79600 levels.

The post EURAUD and EURNZD: EURAUD slipped to 1.62915 yesterday appeared first on FinanceBrokerage.