- In the first two days of this week, the EUR/AUD moved in the 1.65100-1.65600 range.
- EUR/NZD has been consolidating sideways since the beginning of this week in the 1.76950-1.77500 range.
EURAUD chart analysis
In the first two days of this week, the EUR/AUD moved in the 1.65100-1.65600 range. We expect the EMA200 to approach us soon, and we could see stronger momentum then. A move above the EMA200 pair would release the downward pressure of the moving average. It will be much easier to start consolidating upward and continue the recovery. Possible higher targets are 1.65800 and 1.66000 levels.
We need to pull back below the 1.65100 support level to get a bearish option. With this move, we broke the support area for this week. The Euro is under pressure while the Australian dollar is relaxing. Possible lower targets are 1.64900 and 1.64800 levels.
EURNZD chart analysis
EUR/NZD has been consolidating sideways since the beginning of this week in the 1.76950-1.77500 range. The EMA200 is in the middle of this channel, giving us a neutral signal. The current pressure is the lower support level, which could result in a decline and form a new weekly low. Possible lower targets are 1.76800 and 1.76600 levels.
We need a positive consolidation and return to the resistance area above the 1.77400 level for a bullish option. With this move, I am close to breaching the 1.77500 level. After that, we will have to stay at the top and confirm the new position. After that, we can begin to grow to greater levels. Possible higher targets are 1.77600 and 1.77700 levels.
