EUR/NZD Down 6 Pips in Last Hour

Hourly Update

(Last Updated November 17, 2022 1:43 GMT)

At the time of this writing, EURNZD’s rate is down -6 pips (-0.03%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. As for the trend on the hourly timeframe, we see the clearest trend 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 choppiness in the recent daily price action of EURNZD continues; to start today, it came in at a price of 1.69004, up 102 pips (0.61%) since the previous day. Compared to its peers in the Forex, EURNZD gave its buyers a return that ranked 7th in terms of percentage change since the previous day. The price chart of EURNZD below illustrates.

EURNZD

EURNZD Technical Analysis

Notably, EURNZD is now close to its 20, 50, 100 and 200 day averages, located at 1.7011, 1.7035, 1.6669 and 1.652 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 20 day average, which is 110.9 pips away. It should be noted, though, the 100 day simple moving average turned upwards, which may be a bullish 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. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed up. Or to simplify this another way, note that out of the past 10 days EURNZD’s price has gone up 6 them.