(Last Updated April 1, 2021 0:19 GMT)
At the moment, EURNZD’s rate is down -1 pips (-0.01%) from the hour prior. This move is a reversal from the hour prior, which saw price move 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 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)
EURNZD is down 25 pips (0.15%) since the day prior (opening today near 1.6775), marking the 4th day in a row a decrease has occurred. Relative to other instruments in the Forex asset class, EURNZD ranked 29th the day prior in terms of percentage price change. Here is a price chart of EURNZD.
EURNZD Technical Analysis
The first thing we should note is that the current price of EURNZD is sitting close to its 20, 50 and 100 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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. Or to simplify this another way, note that out of the past 14 days EURNZD’s price has gone down 8 them.