EURNZD Down 7 Pips in Last Hour; is Inching Close to 20 and 50 Day Averages

Hourly Update

(Last Updated April 6, 2021 2:19 GMT)

At the moment, EURNZD’s rate is down -7 pips (-0.04%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

EURNZD End of Day Recap

Updated 00:30 GMT (04:30 EST)

EURNZD entered today at 1.67203, down 50 pips (0.3%) from the day prior. Out of the 39 instruments in the Forex asset class, EURNZD ended up ranking 31st for the day in terms of price change. Let’s take a look at price chart of EURNZD.

EURNZD

EURNZD Technical Analysis

The first thing we should note is that the current price of EURNZD is sitting close to its 20, 50 and 100 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 4 pips away. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. It should be noted, though, that a trend in the opposite direction, going up, exists on the 30 day timeframe. Or to simplify this another way, note that out of the past 14 days EURNZD’s price has gone up 7 them.