EURAUD and EURNZD: New annual high for EURNZD at 1.82573

EURAUD chart analysis

During this morning’s Asian trading session, EURAUD climbed to a new weekly high at 1.64298. At that level, bullish momentum was lost, and the pair initiated a pullback. We are now at the 1.63950 level and are under pressure to continue falling to a new daily low. Potential lower targets are the 1.63500 and 1.63000 levels.

Additional support for the EURAUD is the EMA 50 moving average in the 1.63500 zone. To return to the bullish side, we need to stabilize at 1.64000 and start a positive consolidation. After that, we can expect a return to the 1.64300 level and a test of this morning’s high. The new impulse above takes us to a new weekly high and thus confirms the continuation to the bullish side. Potential higher targets are 1.64500 and 1.65000 levels.

EURNZD chart analysis

This morning, EURNZD climbed to a new July high at 1.82573. After its formation, we saw a pullback to the 1.82000 level. For now, we have that support and are recovering slightly to the 1.82200 level. If this consolidation continues, we could retest this morning’s high. A new visit to that zone could produce the impulse to a new weekly high.

Potential higher targets are 1.82600 and 1.82800 levels. EURNZD would have to pull back below the 1.82000 level for a bearish option. With that step, we are going to a new daily low. This confirms that the pair is under pressure to initiate a pullback and look for support at lower levels. Potential lower targets are 1.81800 and 1.81600 levels. The first additional support for EURNZD is the EMA 50 moving average and the zone of 1.81100 levels.

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