EUR/NZD Up 11 Pips in Last Hour, Came Into Today Up For the 4th Day In A Row; in an Uptrend Over Past 14 Days

Hourly Update

(Last Updated May 4, 2022 1:40 GMT)

At the time of this writing, EURNZD’s rate is up 11 pips (0.07%) 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 100 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 is up 36 pips (0.22%) since yesterday (opening today near 1.63635), marking the 4th day in a row an increase has occurred. Relative to other instruments in the Forex asset class, EURNZD ranked 11th yesterday 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, 50, 100 and 200 day averages, located at 1.6058, 1.6083, 1.646 and 1.6523 respectively, and thus may be at a key juncture along those timeframes. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed down. Or to simplify this another way, note that out of the past 14 days EURNZD’s price has gone up 9 them.