EUR/NZD Down 38 Pips in Last Hour; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated November 7, 2022 1:38 GMT)

At the moment, EURNZD’s rate is down -38 pips (-0.23%) 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 100 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 1.6774, down 106 pips 0.63% from yesterday. Relative to other instruments in the Forex asset class, EURNZD ranked 25th yesterday in terms of percentage price change. Let’s take a look at price chart of EURNZD.

EURNZD

EURNZD Technical Analysis

Notably, EURNZD is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. The clearest trend exists on the 14 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 90 day timeframe. For additional context, note that price has gone down 18 out of the past 30 days.