The strong bullish runs in AUDNZD, EURNZD, and EURGBP are now facing significant pullbacks, shifting the immediate bias in favor of sellers. Conversely, the relentless downtrend in NZDCHF has paused, hinting at a potential relief rally, while AUDCAD bulls are making a second attempt to secure a breakout. This widespread reversal of momentum suggests a more cautious and tactical trading environment ahead.
AUDCAD
Major Bias: Bullish
After a brief period of neutrality, AUDCAD bulls have reasserted control. The price has pushed up from the 0.90679 support level and is now challenging the recent highs around 0.92081. This renewed buying pressure suggests the previous false breakout may have been a temporary setback. With the Momentum indicator rising, the bias shifts back to bullish. A clean break above the 0.92081 resistance would signal a continuation of the primary uptrend.
EURGBP
Major Bias: Bearish
The bullish momentum in EURGBP has faded, and sellers are beginning to take control. After failing to push past the 0.87767 high, the price has started to roll over. This is confirmed by the Stochastic oscillator, which is showing a bearish cross down from the overbought region, and the Momentum indicator, which has turned negative. The immediate bias has flipped to bearish, with a correction towards the 0.86700 area or lower now looking likely.
NZDCHF
Major Bias: Neutral
The intense selling pressure in NZDCHF has finally subsided, with the pair finding support and entering a consolidation phase. The relentless downtrend has paused, and early signs of a potential bounce are emerging. The Stochastic oscillator is hooking upwards from deeply oversold levels, suggesting a relief rally could be imminent. While the long-term trend remains bearish, the immediate bias shifts to neutral with a slight bullish tilt for a potential corrective move higher in the coming week.
AUDNZD
Major Bias: Bearish
As anticipated, the extremely overbought conditions in AUDNZD have led to a correction. After peaking, the pair has begun to pull back, with sellers stepping in to push the price lower. The Stochastic oscillator has crossed down from overbought territory, signaling that the upward momentum is exhausted for now. While the longer-term breakout remains significant, the immediate bias for the week ahead is bearish, targeting a retracement towards the 1.11729 level as a potential support zone.
EURNZD
Major Bias: Bearish
The powerful uptrend in EURNZD has stalled, and a corrective phase has begun. The pair is pulling back from its recent all-time highs as buyer momentum wanes. The Stochastic oscillator has provided a clear sell signal with a bearish cross from the overbought zone, indicating a likely period of weakness. The bias for the upcoming week has turned bearish, with sellers aiming to test the prior breakout level around 2.00178 as the first major support target.
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