EURNZD Up 8 Pips Over Past Hour, Fares the Worst Out of Forex; Crosses 20, 50 and 100 Day Moving Averages

Hourly Update

(Last Updated May 28, 2021 1:20 GMT)

At the moment, EURNZD’s rate is up 8 pips (0.05%) from the hour prior. This is the 2nd consecutive hour EURNZD has seen its price head up. As for the trend on the hourly timeframe, we see the clearest trend on the 100 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)

The choppiness in the recent daily price action of EURNZD continues; to start today, it came in at a price of 1.67507, down 200 pips (1.18%) since yesterday. Those trading within the Forex asset class should know that EURNZD was the worst performer in the class. The price chart of EURNZD below illustrates.

EURNZD

EURNZD Technical Analysis

Moving average crossovers are always interesting, so let’s start there: EURNZD crossed below its 20, 50 and 100 day moving averages 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 100 day average, which is 19.9 pips away. It should be noted, though, the 100 day simple moving average turned downwards, which may be a bearish sign. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 5 out of the past 10 days.