EURNZD Up 3 Pips Over Past Hour; in a Downtrend Over Past 90 Days

Hourly Update

(Last Updated January 14, 2021 2:19 GMT)

At the moment, EURNZD’s rate is up 3 pips (0.02%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 20, 50 and 100 hour timeframes. 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 1.6931, up 39 pips (0.23%) since the previous day. Relative to other instruments in the Forex asset class, EURNZD ranked 9th the previous day in terms of percentage price change. Let’s take a look at price chart of EURNZD.

EURNZD

EURNZD Technical Analysis

Coming into today EURNZD is now close to its 20 and 50 day averages, located at 1.7061 and 1.7134 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. For additional context, note that price has gone down 9 out of the past 14 days.