The forex market this week is shaped by dominant bearish trends across key currency pairs. AUDNZD, EURGBP, AUDCAD, and NZDCHF are all showing signs of continued downside pressure. Technical indicators and price action confirm weakening momentum, while EURNZD stands out as the only bullish performer, breaking above major resistance levels. This analysis offers traders a clear directional bias and key levels to watch.
AUDNZD
Market Bias: Bearish AUDNZD has reversed from the 1.0530 resistance and is now trading near the 1.0510 key level. The RSI is above 70, signaling overbought conditions, while the Accumulation/Distribution line shows fading buying interest. The bearish bias is reinforced by weakening momentum, with downside targets at the 1.0450 and 1.0380 key zones.
EURGBP
Market Bias: Bearish EURGBP continues to face resistance at the 0.8800 market level, with price stalling near 0.8730. The RSI is approaching 70, suggesting overbought territory and revealing declining bullish sentiment among non-commercial traders. The bias remains bearish, with potential pullbacks toward the 0.8650 and 0.8570 key levels.
AUDCAD
Market Bias: Bearish AUDCAD is under pressure after failing to hold above the 0.9200 market area. The pair is now testing 0.9100, with the Accumulation/Distribution line trending lower and the ADX below 20, indicating a weak trend. The bearish outlook targets 0.9000 and 0.8900, while resistance remains capped at 0.9200.
NZDCHF
Market Bias: Bearish NZDCHF is hovering just below the 0.46200 key zone, with price action showing minimal decline. The Stochastic remains negative, and the indicator confirms a steady drop. The bearish trend remains intact, with a breakdown likely following the recent reversal before price reaches the 0.47000 key level.
EURNZD
Market Bias: Bullish EURNZD continues its bullish breakout, trading above 2.03500 and targeting 2.04839. The RSI is above 70, indicating strong momentum, while the rising Accumulation/Distribution line confirms sustained buying pressure. As long as price holds above 2.03500, the bullish bias remains valid, with further upside toward the 2.06170 key zone, offering traders actionable insight alongside broader forex signals.
Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset, product, or event. We are not responsible for your investment results.
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