EUR/NZD Down 7 Pips On Hourly Chart, Crosses 200 Day Moving Average; in an Uptrend Over Past 14 Days

Hourly Update

(Last Updated September 13, 2022 1:41 GMT)

At the moment, EURNZD’s rate is down -7 pips (-0.04%) 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. 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 1.6488, up 52 pips (0.32%) since the day prior. Relative to other instruments in the Forex asset class, EURNZD ranked 15th the day prior in terms of percentage price change. Let’s take a look at price chart of EURNZD.

EURNZD

EURNZD Technical Analysis

Notably, EURNZD crossed above its 200 day moving average yesterday. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. It should be noted, though, that a trend in the opposite direction, going down, exists on the 90 day timeframe. For additional context, note that price has gone up 9 out of the past 14 days.