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This week, the forex market shows a drift in momentum as AUDNZD and EURNZD bulls regain strength, while NZDCHF and AUDCAD sellers continue to dominate. EURGBP buyers are also staging a recovery, aiming for a bullish resurgence. Key technical indicators such as MACD, Moving Average Crossings, and the Momentum indicator highlight potential price movements for traders to watch.
AUDNZD
Major Bias – Bullish
AUDNZD buyers are regaining momentum, pushing higher from the 1.09120 key level. The recent bearish phase has been silenced, with strong recovery in sight. The MACD indicator suggests that market momentum is shifting in favor of buyers, signaling a potential continuation of the bullish trend.
EURNZD
Major Bias – Bullish
EURNZD bulls have successfully reclaimed dominance, surging past 1.87130 with an eye on the 1.90000 key level. The Moving Average Crossing indicator confirms strong bullish momentum, indicating a likely expansion in the market. Buyers should anticipate a sustained rally if bullish pressure continues.
NZDCHF
Major Bias – Bearish
NZDCHF sellers have regained control, pulling the price back to the 0.50310 significant level after a reversal from 0.51000. The Moving Average Crossing suggests further bearish activity, though the Momentum indicator has yet to accelerate downward. Sellers may maintain control if momentum builds in their favor.
AUDCAD
Major Bias– Bearish
AUDCAD continues its downward slide, with sellers breaching the 0.90670 level. With buyers stepping aside, the market could extend lower toward 0.89650. The Momentum indicator remains in decline, suggesting further bearish movement in the coming sessions.
EURGBP
Major Bias– Bullish
EURGBP buyers are showing renewed strength, seeking a bullish resurgence. Despite recent selling pressure, the bulls are targeting the 0.84620 key level for further expansion. Market sentiment is shifting, and a breakout could be on the horizon.
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