EUR/NZD Up 17 Pips in Last Hour, Moves Down For the 2nd Consecutive Day; in an Uptrend Over Past 30 Days

Hourly Update

(Last Updated December 16, 2021 1:41 GMT)

Currently, EURNZD’s rate is up 17 pips (0.1%) from the hour prior. This is the 2nd hour in a row EURNZD has seen its price head up. 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 down 52 pips (0.31%) since the day prior (opening today near 1.66521), marking the 2nd consecutive day it has gone down. Out of the 39 instruments in the Forex asset class, EURNZD ended up ranking 29th for the day in terms of price change. The price chart of EURNZD below illustrates.

EURNZD

EURNZD Technical Analysis

Notably, EURNZD is now close to its 20, 50, 100 and 200 day averages, located at 1.651, 1.6389, 1.6582 and 1.6714 respectively, and thus may be at a key juncture along those timeframes. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 200 day average, which is 62.3 pips away. It should be noted, though, the 50 day simple moving average turned downwards, which may be a bearish sign. Volatility for EURNZD has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 30 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 15 out of the past 30 days.