EURNZD: Price Could Experience a Rise

The EURNZD price could rise further.
Buyers might take the leading in the market soon.

EURNZD Weekly Price Analysis – July 25

The EURNZD price anticipates a rise and could swing upward as the market’s selling pressure appears to be exhausted. The pair has just resumed the bullish pressure; if buyers could add more tension to their forces, the Yen price could experience a surge to the $1.98 prior peak value and extend to hit the $2.00 upper resistance, suggesting a good buy signal and entry point for long traders.

EURNZD Market
Key Levels:
Resistance levels: $1.93, $1.94, $1.95
Support levels:   $1.81, $1.80, $1.79

EURNZD Long-term Trend: Bullish (Daily Chart)

The EURNZD is bullish; meanwhile, the price could experience a rise as the bulls have just begun their bullish rally in the long-term time outlook. The price bar remains above the moving average, suggesting an uphill trend.
Bullish pressure drove the pair to the $1.94 resistance, supporting its upward momentum. Bulls are likely to maintain control, as selling pressure remains weak.

EURNZD rises again today on the daily chart, posting a bullish candle at $1.95 above the EMA-50.

If bulls quicken their buying, the price may break out and reach the previous high of $1.98 before a range collapse.

Additionally, the EURNZD market could experience an increase or rise, and a potential upswing would get better confirmation of a bullish recovery if the buyers break above the high of $1.98.

Thus, the post-breakout rally would lead the Yen price towards the upper resistance area at $2.00, creating excitement among long traders.

EURNZD Medium-term Trend: Bearish (4H)

The medium chart of the EURNZD pair shows a bearish trend. Meanwhile, the Yen anticipates a rise soon as it continues to trend and correct below the supply levels.

A bearish trend is indicated by the price action being below the moving averages.

Sellers’ increased momentum to the $1.93 support level in the past few hours has sustained the currency pair price below the resistance levels in its recent high.

Shortly after the daily chart, the EURNZD buyers headed north at the $1.95 high, below the EMA-50, as it continues to correct, expecting a rise soon.

Therefore, the fresh surge may push the Yen price to retest the prior barrier of $1.96, signaling increasing purchase pressure, if the bullish corrective phase continues.

Notably, the bulls also expect a rally shortly, as indicated by the upward-pointing daily signal.

Given this, buy traders may carry on with the positive correction, with the medium-term prediction indicating that the target may be the upper supply mark of $2.00 in the coming days.

Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.