EUR/NZD Down 10 Pips Over Past Hour; Nears 20 and 100 Day Moving Averages

Hourly Update

(Last Updated December 30, 2021 1:42 GMT)

Currently, EURNZD’s rate is down -10 pips (-0.06%) from the hour prior. EURNZD has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 20, 50 and 100 hour timeframes. 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 entered today at 1.66067, down 17 pips (0.1%) from yesterday. Compared to its peers in the Forex, EURNZD gave its buyers a return that ranked 31st in terms of percentage change since yesterday. The price chart of EURNZD below illustrates.

EURNZD

EURNZD Technical Analysis

The first thing we should note is that EURNZD is now close to its 20, 50, 100 and 200 day averages, located at 1.6658, 1.6419, 1.6564 and 1.6713 respectively, and thus may be at a key juncture along those timeframes. 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 100 day average, which is 42.8 pips away. It should be noted, though, the 20 day simple moving average turned downwards, which may be a bearish sign. 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 up. For additional context, note that price has gone down 15 out of the past 30 days.