EURNZD: Looks Promising at the $1.90 Resistance Value

The EURNZD pair looks promising at the $1.90 current value.
The bulls remain on top of the range.

EURNZD Weekly Price Analysis – April 4

EURNZD price anticipates more swings and looks promising as the buying pressure mounts. The pair is gaining traction with a robust bullish trend, signaling strong market optimism and potential for significant gains. Meanwhile, the Yen can swing up further and test the supply level of $1.91. Should the bulls’ increase their pressure, the resistance level of $1.90 may not hold and extend to a $1.92 high level, suggesting a good entry point for long traders.

EURNZD Market
Key Levels:
Resistance levels: $1.89, $1.90, $1.91
Support levels: $1.73, $1.72, $1.71

EURNZD Long-term Trend: Bullish (Daily Chart)

The EURNZD pair looks promising and indicates an upward trend with a bullish sentiment in its long-term perspective.
The price action depicts a beautiful bullish continuation pattern that promises a 20% breakout if market conditions remain favorable. The pair is trading above the supply levels, confirming its bullishness at the recent high.

The sustained bullish pressure on the currency pair at the $1.89 supply mark in the last few days has sustained the Yen price above the supply trend levels in its recent high.

The bulls’ action accelerates the price of EURNZD to the $1.90 resistance level above the EMA-50 even as the daily session opens today, indicating an uptrend and looks promising to the long traders.

Thus, if the Yen’s price could sustain above the $1.91 high level, the potential rally could surge higher to hit a key resistance value at the upper channel.

Similarly, the momentum indicator also signaled an uptrend. Buyers are expected to continue with the trend; in this case, the price of EURNZD might reach the $1.92 resistance value in the coming days in its long-term perspective.

EURNZD Medium-term Trend: Bullish (4H)

On the medium-term outlook, the EURNZD pair also looks promising and remains in an uptrend, resulting in a 2.50% increase in the market value.

The prices are above the moving averages and have confirmed a bullish momentum, breaking the previous high.

The bullish impact on Yen at the $1.89 high level in the last action has contributed to its buy trade set-up in its recent high.

The market price of EURNZD looks promising and currently trades at the $1.90 resistance level above the moving averages, indicating that the bulls are in control of the market.

Additionally, the pair looks promising, while the uptrend is currently facing resistance at $1.90.

Therefore, if additional selling power is prevented, the price may likely hit the previous high of $1.91 and be exposed to the $1.92 upper resistance level in the nearby day in its medium-term forecast.

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