EUR/NZD Up 14 Pips On Hourly Chart, Came Into Today Up For the 3rd Consecutive Day; Eyes 50 and 100 Day Averages

Hourly Update

(Last Updated August 31, 2022 1:41 GMT)

At the time of this writing, EURNZD’s rate is up 14 pips (0.09%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on EURNZD. Given that we see an uptrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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 97 pips (0.6%) since yesterday (opening today near 1.6343), marking the 3rd consecutive day an upward move has occurred. Compared to its peers in the Forex, EURNZD gave its buyers a return that ranked 12th in terms of percentage change since yesterday. The price chart of EURNZD below illustrates.

EURNZD

EURNZD Technical Analysis

Coming into today the current price of EURNZD is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. For additional context, note that price has gone up 8 out of the past 14 days.