EURNZD: Price Could Surge Higher

The EURNZD pair could surge and remain stable at the upside sooner.
Buyers may take control of the trend.

EURNZD Weekly Price Analysis – November 14

EURNZD price could surge higher as buyers anticipate increases as the market approaches growing time again. The bull race may likely continue to the key psychological level of $2.06, prior supply value, and beyond, if buyers add more pressure to their buying momentum and the support level of $2.04 remains held. In light of this, the currency pair price may surge to reach the upper resistance level of $2.08, suggesting a good buy signal and entry point for long-term traders.

EURNZD Market
Key Levels:
Resistance levels: $2.04, $2.05, $2.06
Support levels:   $1.88, $1.87, $1.86

EURNZD Long-term Trend: Bullish (Daily Chart)

Despite minor corrections by the short traders, the EURNZD is bullish.

The price could surge higher, as bulls have just begun their long-term rally. The price bar stays above the moving average, suggesting a bullish trend.

The sustained bullish pressure at the $2.04 high value in the previous action has made it easier for the currency pair to reach the time to grow again above the supply trend lines in its recent high.

As the daily chart begins today, the EURNZD price reached a time to expand again at $2.05 above the EMA-50 after it finished the dip lows at the $0.204 level.

If bulls increase their price action, and a bullish momentum is sustained, the currency pair price will further increase to the upside as it reaches the time to grow again.

Therefore, if the bullish correction persists, the pair price could surge to retest the previous barrier, indicating a potential and sustainable trend for long-term traders.

Notably, the bulls could swing the EURNZD market as indicated by the daily signal pointing up.

In light of this, buyers may continue the upward journey and could surge to hit the $2.08 upper resistance mark in the days ahead in its higher time frame.

EURNZD Medium-term Trend: Bullish (4H)

The EURNZD pair remains positive despite the bears’ interference on the medium-term outlook.
The price bar is above the moving averages, suggesting a bullish trend. Nevertheless, the bulls will take over the price soon and take us higher as bullish pressure resumes.

The flow from the bulls to a $2.02 supply value in the last few hours has enabled the pair price to stay above the resistance lines in its recent correction.

Today, the EURNZD price suggests a bullish trend at the $2.04 resistance level above the EMA-50 as the 4-hourly session opens, aiming for the upper boundary of the range.

Furthermore, an increase in buying pressure may lead the currency pair price to retest the previous high of $2.06, obtaining a higher footing to rise higher.

Notably, the EURNZD pair shows more upside possibilities. As a result, the pair could surge higher to the $2.08 upper resistance level in the days ahead in its medium-term forecast.

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