(Last Updated March 26, 2021 23:19 GMT)
At the time of this writing, EURNZD’s rate is up 5 pips (0.03%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 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, which opened today priced near 1.69028, is down 51 pips 0.3% since the previous day, marking a reversal from the day prior — and the end of a 5 day positive run. Out of the 39 instruments in the Forex asset class, EURNZD ended up ranking 35th for the day in terms of price change. The price chart of EURNZD below illustrates.
EURNZD Technical Analysis
First things first: EURNZD crossed below its 100 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed down. Or to simplify this another way, note that out of the past 30 days EURNZD’s price has gone down 15 them.