- On Friday, EUR/AUD managed to maintain itself above the 1.65250 level and found support there.
- On Friday we saw the EUR/NZD fall to the 1.75125 level.
EURAUD chart analysis
On Friday, EUR/AUD managed to maintain itself above the 1.65250 level and found support there. We found additional support at the EMA200, and the pair was able to use it and bounce back to the 1.65600 level. Not long after, we ran into resistance and started to pull back to the 1.64800 level. Thus, we form a lower low compared to Friday, which increases the chances of further decline.
During the previous Asian trading session, EUR/AUD started to recover, rising to the 1.65400 level, where we are now testing the EMA200. If we can break above that, we will have the opportunity to test this week's high at 1.65600. Possible higher targets are 1.65800 and 1.66000 levels.
EURNZD chart analysis
On Friday we saw the EUR/NZD fall to the 1.75125 level. The pair receives the required support and begins to recover from this level. During the Asian trading session, we found support at the 1.75800 level and jumped to the 1.76500 level with a strong push. Here we encounter the EMA200 moving average, which prevents us and does not allow us to break above it.
If we can move above, potential higher targets are the 1.76600 and 1.76800 levels. We need negative consolidation and a drop below 1.76250 for a bearish option. With this move, we will move away from the 200 SMA and start to pull back with the aim of looking for support at lower levels. Possible initial targets are 1.76000 and 1.75500 levels.
