EUR/NZD Up 10 Pips Over Past Hour, 3 Day Up Streak Snapped; Breaks Below 200 Day Average

Hourly Update

(Last Updated September 12, 2022 1:40 GMT)

At the moment, EURNZD’s rate is up 10 pips (0.06%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. As for the trend on the hourly timeframe, we see the clearest trend on the 50 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)

EURNZD, which opened today priced near 1.6436, is down 70 pips 0.42% since the day prior, marking a reversal from the day prior — and the end of a 3 day positive run. Relative to other instruments in the Forex asset class, EURNZD ranked 25th the day prior in terms of percentage price change. Here is a price chart of EURNZD.

EURNZD

EURNZD Technical Analysis

First things first: EURNZD crossed below 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. Or to simplify this another way, note that out of the past 14 days EURNZD’s price has gone up 8 them.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for EURNZD; just 3 sell signals and 0 buy signals. This imputes a buy/sell ratio of 0, which is quite bearish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Waiting for another test of 1.65554 or a lower high to form to short EURNZD back down to 4H swing lows at 1.58846.If you agree drop a like and if you have any questions leave a comment 🙂