- The EUR/AUD pair is on a seven-day uptrend after falling last Tuesday to the 1.63500 level.
- The euro against the New Zealand dollar has been experiencing an upward consolidation since last Tuesday at 1.75993 levels.
EURAUD chart analysis
The EUR/AUD pair is on a seven-day uptrend after falling last Tuesday to the 1.63500 level. There, we got support, and with bullish consolidation, we moved above the EMA200 and 1.65000 levels. The growth did not stop there because we began to form a new high at the level of 1.66060.
We stop there and then start to pull back to the support we found at the EMA200 and 1.65000 levels. Resistance becomes support, and we are looking for a new bullish consolidation and a new jump on Monday to the 1.66000 level.
After that, Monday was spent slightly lower as we awaited the Reserve Bank of Australia's decision on future interest rates. The news was announced this morning, and the Reserve Bank of Australia left interest rates at the same previous level of 4.35%.
This initially gave strength to the Australian dollar, but the Euro took over over time. Support at 1.65000 and EMA200 could determine the future movement of this pair.
EURNZD chart analysis
The euro against the New Zealand dollar has been experiencing an upward consolidation since last Tuesday at 1.75993 levels. On Friday we saw a jump above the 200 EMA, taking momentum to the 1.78000 level. When the market opened on Sunday evening, the pair jumped to 1.78099, marking the highest level for this week there. We are starting to pull back to support at the 1.77200 level and the EMA200 from that level.
During the Asian session, the pair broke down and fell to the 1.77000 level. We managed to get support at this level and started the bullish consolidation, then we returned above the EMA200 level. We now expect to see a continuation of this consolidation and a breach of the 1.77600 resistance level. Possible higher targets are 1.77800 and 1.78000 levels.
