EURNZD Up 5 Pips in Last Hour; Crosses 20 Day Moving Average

Hourly Update

(Last Updated October 19, 2020 10:17 GMT)

At the moment, EURNZD’s rate is up 5 pips (0.03%) from the hour prior. The hourly chart shows that EURNZD has seen 2 straight up hours. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 100 hour moving average has been crossed, with price now being above it. 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)

The choppiness in the recent daily price action of EURNZD continues; to start today, it came in at a price of 1.7731, down 12 pips (0.07%) since the previous day. Out of the 40 instruments in the Forex asset class, EURNZD ended up ranking 26th for the day in terms of price change. The price chart of EURNZD below illustrates.

EURNZD

EURNZD Technical Analysis

First things first: EURNZD crossed below its 20 day moving average yesterday. 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 7.5 pips away. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 7 out of the past 14 days.