EURNZD: Price Changes Direction to the Upsides at $1.88 Level

The EURNZD price changes direction to the upsides.
Buy traders remain dominant.

EURNZD Weekly Price Analysis – March 21

EURNZD pair paints a different picture today as it changes direction and remains stable at the upsides, anticipating more growth. If the bulls could increase their positive interest and the Yen price shows sustainability above the $1.91 previous high point, its upside moves could extend further to reach the $1.95 upper resistance level and beyond, resulting in an intraday gain and a potential buy signal for the bulls.

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)

EURNZD turns positive today as the pair changes direction to the upsides from the chart below. The Yen market remains bullish and trades above the supply levels, confirming a bullish race.
The persistent bullish pressure on the currency pair at a $1.87 high level in the last session has enabled the pair to remain firm in an uptrend in its recent high.

At press time today, the EURNZD price changed direction to the upside as the bulls swept the bearish momentum under the rug by pushing the Yen price to an intra-day high of $1.88 above the supply levels.

This indicates that buyers remain dominant and have the market price at their disposal at the moment.

Further, an increase in the buying pressure might lead the Yen price to touch the previous $1.91 high, obtaining a higher footing to rise higher.

Additionally, the price of EURNZD is pointing up on the daily signal. Hence, buyers could aim at the psychological level of $1.95 resistance value in the days ahead as the pair changes direction to the upsides and remains firm above the supply trend levels in its long-term perspective.

EURNZD Medium-term Trend: Bullish (4H)

The EURNZD pair has just changed its direction by breaking up the supply levels, anticipating more growth as it trends above the supply levels. The price is above the resistance levels, suggesting the bulls are climbing.
The bullish impact on the currency pair to a $1.87 supply level in the last session has sustained its firmness above the supply levels in its recent trend levels.
EURNZD buyers caused a rise to the $1.88 resistance value slightly above the EMA-50 as the 4-hour chart resumes today with an intraday gain.

The longer the price stays above the mentioned supply level, the more pressure builds up to reach a key significant level at the upside.

Next, the EURNZD price indicates an uptrend on the daily stochastic. As a result, the yen price may continue the upward movement and head towards the $1.95 upper resistance level in the days ahead in its medium-term outlook.

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