EURNZD Down 6 Pips in Last Hour, Makes Big Move Relative to Two Week Trend; Nears 20 and 50 Day Moving Averages

Hourly Update

(Last Updated September 22, 2021 6:17 GMT)

Currently, EURNZD’s rate is down -6 pips (-0.04%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

EURNZD End of Day Recap

Updated 00:30 GMT (04:30 EST)

EURNZD is up 21 pips (0.13%) since the previous day (opening today near 1.67501), marking the 4th straight day it has gone up. Compared to its peers in the Forex, EURNZD gave its buyers a return that ranked 9th in terms of percentage change since the previous day. The price chart of EURNZD below illustrates.

EURNZD

EURNZD Technical Analysis

Coming into today the current price of EURNZD is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 20 day average, which is 46.9 pips away. Volatility for EURNZD has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. Or to simplify this another way, note that out of the past 14 days EURNZD’s price has gone up 7 them.