EURAUD and EURNZD: EURNZD is down to 1.76334 this morning

• Yesterday, we saw EURAUD pull back to 1.62978 level.
• During this morning’s Asian trading session, EURNZD retreated to a new weekly low at 1.76334 level.

EURAUD chart analysis

Yesterday, we saw EURAUD pull back to 1.62978 level. The pair consolidated bullish after forming a new low at that level. During this morning’s Asian trading session, we saw a retest of yesterday’s support. We managed to hold on there again and start growing above 1.63300 and the EMA200 moving average, jumping to 1.63400 levels.

With this step, we switch to the positive side and expect further growth and recovery. Potential higher targets are 1.63500 and 1.63600 levels. We need a negative consolidation and pullback below the EMA200 moving average for a bearish option. After that, we move again to the negative side and exert pressure in the support zone. Potential lower targets are 1.63000 and 1.62900 levels.

EURNZD chart analysis

During this morning’s Asian trading session, EURNZD showed its resilience by retreating to a new weekly low at 1.76334 level. However, the pair managed to maintain its position at that level and even started a slight recovery to the 1.76665 level. We broke above the Asian high value, forming a new daily high. This indicates a strong potential for continued growth of EURNZD to higher levels.

For the EURNZD pair, potential higher targets are 1.76800 and 1.76900 levels. However, the EMA50 in the zone of 1.76800 could act as a barrier against further recovery. A retracement down to the 1.76400 support zone could signal a bearish option, with potential lower targets at 1.76300 and 1.76200 levels.

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