This week’s forex market reveals a mixed landscape of trend continuation and resistance tests. AUDNZD and AUDCAD are pressing into key resistance zones with bullish momentum, while EURGBP and NZDCHF remain under bearish pressure. EURNZD, after a strong rally, is now consolidating below its breakout level. Technical indicators such as Chande Momentum Oscillator and MACD suggest potential turning points, with volatility remaining moderate across most pairs.
AUDNZD
Market Bias: Bullish
AUDNZD is trading at 1.16409, down -0.21%, but remains above key support.
ChandeMO shows positive momentum, though slightly weakening. The MACD line is at 0.00029 showing bullish structure but fading strength.
EURGBP
Market Bias: Bearish
EURGBP is trading at 0.86740, slightly down -0.02%, and remains capped below resistance. The MACD line shows bearish crossover confirmed. Bearish bias remains below 0.87267, with downside targets at 0.86000 and 0.85270. A close above 0.87267 would challenge the bearish view.
AUDCAD
Market Bias: Bullish
AUDCAD is trading at 0.93068, nearly flat at -0.01%, and testing the 0.93000 resistance.
ChandeMO shows moderate flow. Bullish bias remains intact above 0.92690. A breakout above 0.93495 could open the path toward 0.94000, while failure to hold may trigger a pullback toward 0.91370.
NZDCHF
Market Bias: Bearish
NZDCHF is trading at 0.46180, slightly up on the day, but still below key resistance. ChandeMO shows neutral to weak bullish momentum. Bearish bias remains below 0.48770 key level. A break below 0.46025 could expose 0.44720, while any bounce is likely to face resistance near 0.48770 key zone.
EURNZD
Market Bias: Bullish
EURNZD is trading at 2.01706, down -0.17%, and consolidating below the 2.03129 resistance. ChandeMO indicates negative momentum, signaling a pause in bullish trend. Bias shifts to neutral while price remains below 2.03129. A close above this level would resume bullish momentum toward 2.05000, while a drop below 2.00178 would confirm deeper correction.
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