Weekly Analysis for EURGBP, AUDNZD, EURNZD, NZDCHF & AUDCAD  ( May 10th – 17th)

The forex market shows mixed signals across major crosses:  EURGBP, AUDCAD, NZDCHF, EURNZD, and AUDNZD.  as buyers and sellers battle for control. Let’s take a look at how the week saw bulls and bears battle for dominance.

EURGBP

Major Bias : Bearish

Price action has entered a cooling phase after sellers successfully breached the 0.84650 support, now testing 0.84000. The Momentum indicator confirms sustained selling pressure, while the RSI (Relative Strength Index) shows sellers maintaining control without being oversold. With buyers absent, any rallies may face rejection near the 0.84300 key level.

AUDNZD

Major Bias: Bullish

The rally near the 1.09100 significant zone shows fading momentum despite buyers’ historical dominance. The RSI remains bullish but is diverging from price, signaling potential weakness. The Momentum indicator’s decline suggests sellers may soon test the 1.08300 market level. A break below this level could trigger a deeper correction.

EURNZD 

Major Bias – Bearish

Price consolidates above the 1.8760 key level as sellers dominate but lack follow-through. The RSI and flat Momentum indicator reflect market indecision. Buyers need to reclaim 1.8850 to suggest a reversal; otherwise, bears may retest the 1.8680 significant zone.

NZDCHF 

Major Bias – Bullish

The pair hovers near 0.48770, with neither buyers nor sellers committing. The RSI and sluggish Momentum indicator reflect this equilibrium. A breakout above 0.49000 or below the 0.48500 key level is needed for directional clarity.

AUDCAD 
Major Bias – Bullish

Buyers struggle to reclaim 0.89450 despite elevated RSI. The Momentum indicator’s lack of confirmation suggests fatigue. A hold above the 0.88800 key zone keeps the uptrend intact, but a drop below may invite sellers to the 0.88200 significant level.

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