EURNZD: Price Anticipates Further Increase

The EURNZD price could an increase in the market value.
Buy traders may evade the entire market soon.

EURNZD Weekly Price Analysis – March 28

EURNZD price anticipates a further increase in its market value as the bulls resume the bullish rally, indicating that buyers are ready to push the Yen price up as the selling pressure is not certain again.
The Yen may continue the bullish rally if the bulls add more aggression to their buying motives. As a result, the new bullish correction could drive the currency pair to a previous high at $1.91 level and extend to a $1.95 upper resistance level, resulting in a good entry point for long-term traders.

EURNZD Market
Key Levels:
Resistance levels: $1.86, $1.87, $1.88
Support levels: $1.73, $1.72, $1.71

EURNZD Long-term Trend: Bullish (Daily Chart)

The momentum on the long-term time frame is distinctly bullish as the bulls anticipate a further increase. Nevertheless, it seems the bulls will take over the price of EURNZD and push us higher as the market remains in an uptrend despite the moves from the sell traders.
Today’s daily chart at the $1.88 supply level above the EMA-50 will rise further as the bulls take their stand to continue the journey up north. This will give the buy traders the motive to influence the price tendency.

Hence, if a renewed surge in buying pressure occurs, the EURNZD price might surge to hit the previous barrier at the $1.91 supply level and extend further to a $1.95 upper resistance value, as it anticipates a further rise in its long-term view.

EURNZD Medium-term Trend: Bearish (4H)

EURNZD’s price is bearish on the 4-hourly chart. Meanwhile, the Yen anticipates further increase as it continues to trend and correct below the supply levels. The price action is below the moving averages, suggesting a bearish trend.
Sellers’ increased momentum to the $1.87 support level in the past few hours has sustained the pair price below the resistance levels in its recent high.

Today, the EURNZD buyers took the journey up north at the $1.88 high mark below the EMA-50, as it continues correcting, shortly after the commencement of the 4-hourly chart, anticipating an increase soon.

Hence, if the bullish correction phase persists, the new correction may drive the currency pair price to retest the $1.91 previous barrier, indicating a growing buy pressure.

However, the bulls also anticipate further increases, as suggested by the daily signal.

In light of this, the buy traders may continue the bullish correction, and the target might be the $1.95 upper supply mark in the days ahead as the pair anticipates an increase in its medium-term forecast.

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