Weekly Forex Technical Outlook: AUDCAD, EURNZD, NZDCHF, EURGBP & AUDNZD ( May 19 -23)

This week’s analysis focuses on five currency pairs—AUDCAD, EURNZD, NZDCHF, EURGBP, and AUDNZD—each reflecting a unique battle between bullish ambition and bearish dominance.

AUDCAD

Major Bias: Bullish

Buyers are establishing positions near 0.89100, showing determination to overcome seller resistance. While the Stochastic Oscillator indicates growing buying interest, the Parabolic SAR suggests hesitation. Momentum remains tentative, requiring confirmation above 0.89400 for a stronger bullish case.

EURNZD

Major Bias: Bearish

Price consolidates below 1.88900 as bears maintain control but lack conviction. The Stochastic Oscillator favors downside, though the Parabolic SAR hasn’t fully confirmed the bearish bias. A break below 1.88000 could accelerate selling toward 1.87000.

NZDCHF

Major Bias: Bullish

Buyers attempt to regain control near 0.49320 despite challenges. The Stochastic Oscillator shows building upside momentum, though price action remains choppy. A clean break above 0.49500 would confirm the recovery thesis.

EURGBP

Major Bias: Bearish

Sellers dominate after breaking 0.84000, with the Stochastic Oscillator confirming downward pressure. The path toward 0.83000 appears clear unless buyers can reclaim 0.84200. Expect continued selling pressure in coming sessions.

AUDNZD

Major Bias: Bearish

The pair breaks 1.08530 as bears take full control. The Stochastic Oscillator aligns with the downward move, suggesting potential extension toward 1.07500. Any rallies should be viewed as selling opportunities unless 1.09000 is reclaimed.

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