EUR/NZD Down 19 Pips Over Past Hour; is Inching Close to 100 Day Average

Hourly Update

(Last Updated January 5, 2022 1:42 GMT)

At the moment, EURNZD’s rate is down -19 pips (-0.12%) 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. Regarding the trend, note that the strongest trend exists on the 20 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)

The back and forth price flow continues for EURNZD, which started today off at 1.65567, down 85 pips 0.51% from the day prior. Compared to its peers in the Forex, EURNZD gave its buyers a return that ranked 37th in terms of percentage change since the day prior. Here is a price chart of EURNZD.

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 100 day average, which is 1.2 pips away. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. Or to simplify this another way, note that out of the past 30 days EURNZD’s price has gone down 16 them.

The View From Around the Web

Not much commentary on EURNZD that we’re finding noteworthy here; as such, there’s not much we can say about sentiment. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

manage your risk at support zones and look for volume and candlestick pattern ( engulfing … pin bar … inside bar ) on the second support zone .