EURNZD: Looks Promising for Buyers at the $1.91 Resistance Value

The EURNZD pair looks promising as it journeys up north.
The bulls are still dominating the market.

EURNZD Weekly Price Analysis – June 13

The EURNZD pair is skyrocketing and looks promising for buyers at the $1.91 current supply value. Hence, the Yen may continue to rise and test the $1.98 prior supply level. The resistance level of $1.91 might not hold if the bulls increase their push, and it might rise to a high level of $2.00 and above, signaling a buy potential for the bulls.

EURNZD Market
Key Levels:
Resistance levels: $1.90, $1.914, $1.92
Support levels: $1.73, $1.72, $1.71

EURNZD Long-term Trend: Bullish (Daily Chart)

The EURNZD pair looks promising for buyers and indicates an upward trend with a bullish sentiment in its long-term perspective. The pair is currently trading above the supply levels, confirming its bullishness at the recent high.
The sustained bullish pressure on the currency pair in the last few days has pushed the Yen price above the supply trend levels in its recent high.

The EURNZD bulls anticipate more growth as the Yen price surges to a $1.91 resistance point above the EMA-50, with the bulls regaining momentum to influence the price tendency.

Hence, if the bullish correction phase persists, the new correction may drive the EURNZD price to retest the $1.98 previous barrier, indicating growing bullish pressure.

Similarly, the momentum indicator also signaled an uptrend, indicating an increase. Buyers are expected to continue with the trend and in this case, the price of EURNZD might reach the $2.00 upper resistance value soon in its long-term perspective.

EURNZD Medium-term Trend: Bullish (4H Chart)

On the medium-term outlook, the EURNZD pair also looks promising and remains in a smooth upward trend. The pair is approaching the overhead resistance above the moving averages, suggesting a bullish momentum.
The bulls’ pressure at the $1.90 supply value during yesterday’s session has contributed to its bullishness in recent times.

The market price of EURNZD looks promising and it is currently trading at the $1.91 resistance level above the moving averages, implying that the bulls are in control of the market.

Additionally, the pair looks promising and the uptrend is currently facing upper resistance at $1.98.

Therefore, if additional selling is prevented, the price may touch the previous high of $1.98 and be exposed to the $2.00 upper resistance level soon in its medium-term perspective.

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