Weekly Analysis for AUDNZD, EURNZD, NZDCHF, AUDCAD & EURGBP (May 3rd – May 9th)

This week, the spotlight is on five key pairs: EURGBP, AUDCAD, NZDCHF, EURNZD, and AUDNZD. Each pair reveals a unique narrative of momentum, resistance, and potential breakout or breakdown scenarios.

EURGBP

Major Bias – Bearish

The pair continues to show signs of bearish strength as sellers dominate the market. After breaching the 0.85270 key level, the pair has been on a consistent downward trajectory. Buyers appear to have lost confidence, and the market is now gravitating towards the 0.84650 support zone. The stochastic oscillator indicates sellers are still in control, with no signs of reversal.

AUDCAD

Major Bias – Bullish

Despite a generally bearish market atmosphere, AUDCAD bulls are showing resilience. Buyers are mounting pressure against the 0.90000 psychological barrier, attempting to break through and establish bullish dominance. The Stochastic Oscillator shows upward movement, suggesting buyers are gaining ground.

NZDCHF

Major Bias – Bearish

The NZDCHF pair is showing signs of bearish control as the market consolidates above the 0.48700 key level. Buyers have been unable to sustain upward momentum, giving sellers the upper hand. The Momentum indicator suggests weakening bullish pressure. On the Stochastic Oscillator there are bearish crossover signals that dictate a downward momentum.

EURNZD

Major Bias – Bearish

The pair remains under bearish influence after slipping below the 1.19600 significant level. Although buyers are attempting to regain control, the prevailing sentiment remains bearish. The Stochastic Oscillator shows a slight upward movement, indicating buyer resistance. Sellers still dictate the pace of the market.

AUDNZD

Major Bias – Bullish

The pair is showing signs of recovery after a brief pullback. Buyers, initially halted in their upward movement, are now regaining strength. Both the Stochastic Oscillator and Momentum indicator support the bullish narrative. The Stochastic Oscillator shows a renewed buying interest.

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