Weekly Analysis for AUDNZD, EURNZD, NZDCHF, AUDCAD & EURGBP (April 28th – May 2nd)

This week, several currency pairs are showing significant technical patterns and momentum shifts. From the bullish surge in AUDNZD to the bearish consolidation in EURNZD, each pair tells a unique story.

AUDNZD

Major Bias – Bullish

The pair continues to exhibit a strong bullish trajectory, pushing confidently towards the 1.08600 resistance zone. Following a decisive reversal at the 1.06700 level, buyers have taken the reins, propelling the pair with remarkable momentum. The bounce from 1.06700 confirms a shift in market sentiment. The Stochastic Oscillator indicates sustained buying pressure, with the oscillator remaining above the 80 level.

EURNZD

Major Bias – Bearish

The pair is showing signs of weakness after a failed attempt to hold above the 1.91600 resistance. The market is currently in a consolidation phase, but bearish indicators suggest a potential downward breakout. The MACD indicator shows a bearish crossover, indicating downward momentum. A decisive break below 1.91000 could lead to a drop towards the 1.90000 psychological level.

NZDCHF

Major Bais – Bullish

The pair is staging a bullish comeback after rebounding from the 0.48770 support level. Buyers are pressing forward with renewed vigor, aiming to challenge the 0.50000 resistance zone. The Stochastic Oscillator shows a bullish crossover, signaling upward momentum. The bounce from the 0.48770 key level strengthens the bullish case.

AUDCAD

Major Bias – Bullish

The AUDCAD pair is currently in a consolidation phase, with bulls preparing for a potential breakout. The price action near the 0.88520 level suggests accumulation as buyers gather momentum. The MACD ( Moving Average Convergence and Divergent ) indicator shows bullish divergence, hinting at a possible reversal.

EURGBP

Major Bais – Bullish

The pair is showing signs of a bullish recovery, with buyers targeting the 0.85150 resistance level. The recent crossover in the Stochastic Oscillator supports the bullish narrative. The Stochastic Oscillator indicates a shift in momentum towards the bulls. Higher lows forming on the chart suggest upward pressure.

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