Weekly Forex Market Outlook: AUDNZD, EURNZD, EURGBP, NZDCHF, AUDCAD (January 2 – February 6 2026)

As we move deeper into February, forex markets continue to exhibit divergent behavior across major currency pairs. The Swiss Franc shows resilience against the Kiwi, and cross-currency dynamics remain primarily driven by diverging policies.

AUDNZD

Market Bias: Bullish

AUDNZD closed the previous week around 1.16570, continuing to build on its uptrend while consolidating just below recent highs near 1.17000 zone. The pair maintains its position well above the 1.14210 support level, with the structural trend remaining firmly intact.

The Stochastic oscillator shows values of 91.93 and 87.57, indicating overbought conditions that suggest a potential near-term consolidation or minor pullback.

EURNZD

Market Bias: Bearish

EURNZD continues its descent, trading around 1.96180 after a sustained move lower. The pair remains firmly capped below the 2.03120 resistance zone, with sellers maintaining control throughout the recent price action. The loss of bullish momentum from earlier levels has left the pair vulnerable to further downside.

Stochastic readings of 18.53 and 27.40 indicate oversold conditions, suggesting the immediate selling pressure may be nearing exhaustion. However, the absence of any meaningful bullish reversal signals keeps the bearish bias intact, with any rallies expected to be corrective in nature rather than trend-changing events.

EURGBP

Market Bias: Bearish

EURGBP remains under consistent downward pressure, currently trading near 0.86811 while being repeatedly rejected from the 0.88290 resistance level. The pair’s inability to reclaim higher ground reinforces the dominance of sellers and suggests further downside exploration remains probable.

The Stochastic oscillator shows readings of 51.43 and 49.00, placing momentum in neutral territory. This indicates neither buyers nor sellers have established decisive control in the short term, though the broader structural trend continues to favor downside continuation as long as key resistance holds.

NZDCHF

Market Bias: Bearish

NZDCHF has experienced a modest recovery, trading around 0.46668 after bouncing from lower levels. Despite this bounce, the pair remains well below significant resistance levels, and the broader structural trend continues to point lower. The recent strength appears corrective within the context of the prevailing downtrend.

Stochastic values of 63.16 and 52.34 suggest momentum is in the middle range, neither extremely overbought nor oversold. While this allows for additional near-term upside, the lack of a clear bullish reversal pattern suggests sellers are likely to reemerge at higher levels, capping upside potential.

AUDCAD

Market Bias: Bullish

AUDCAD demonstrates strong bullish characteristics, currently trading near 0.95001 and holding comfortably above its key support structure near 0.92698. The pair has shown impressive resilience throughout recent sessions, with buyers repeatedly stepping in to defend higher lows and push price toward fresh resistance zones.

The Stochastic oscillator reads 89.20 and 77.92, indicating overbought conditions that warn of potential near-term consolidation.

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