EUR/NZD Up 12 Pips On Hourly Chart; is Inching Close to 50 Day Average

Hourly Update

(Last Updated April 28, 2022 1:41 GMT)

At the time of this writing, EURNZD’s rate is up 12 pips (0.07%) 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. From a hourly perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 hour timeframes. 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 back and forth price flow continues for EURNZD, which started today off at 1.61359, down 52 pips 0.32% from yesterday. Relative to other instruments in the Forex asset class, EURNZD ranked 30th yesterday in terms of percentage price change. Here is a price chart of EURNZD.

EURNZD

EURNZD Technical Analysis

Coming into today EURNZD is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed down. For additional context, note that price has gone up 5 out of the past 10 days.