The foreign exchange market is displaying a mix of momentum across the specified currency pairs this week. Bearish trends are evident in AUDNZD, NZDCHF, and EURNZD, while AUDCAD and EURGBP are showing bullish signals. Below is a detailed analysis of each pair, including the major trend and key levels to watch.
AUDNZD
Major Bias: Bearish
AUDNZD is on a upward trajectory this week, with buyers firmly in control as the pair aim to breach the 1.09120 resistance level. The price has since declined toward the 1.07000 support zone. For a bullish reversal to occur, the price would need a strong push above the middle. The Stochastic Oscillator shows buyers on the rise.
EURGBP
Major Bias: Bullish
EURGBP is exhibiting bullish momentum, with buyers driving the pair toward the 0.87600 resistance zone before a slight pullback. The Money Flow indicate rising volatility and support the potential for additional upside. A break above 0.87600 could see the pair target 0.88000, while a drop below 0.87200 might lead to a retracement toward 0.86800 key level.
AUDCAD
Major Bias: Bullish
AUDCAD has staged a bullish recovery this week, rebounding from the 0.84400 support zone and advancing toward the 0.87410 resistance area. The Stochastic Oscillator reflects growing bullish momentum, with upward trends . A break above 0.87410 could push the pair toward 0.88000. However, a reversal below 0.84400 would undermine the bullish bias, potentially driving the price down to 0.83800.
NZDCHF
Major Bias: Bearish
NZDCHF continues its bearish trend following a decisive breakout below the 0.50310 key level, with the price dropping to the 0.46000 support. If sellers maintain dominance, the price could test 0.45500. A bullish shift would require a significant move above 0.47000.
EURNZD
Major Bias: Bullish
EURNZD has turned bullish this week planning to reach a peak near 2.0000 key level. Although sellers are now exerting pressure and driving the price toward the 1.9150 zone. A break below 1.9150 could see the pair target 1.8726, while a bullish reversal would need a strong move back above 1.9300. The Money Flow Index show buyers in control.
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