EUR/NZD Up 17 Pips in Last Hour, Moves Up For the 2nd Day In A Row; Price Base in Formation Over Past 30 and 90 Days

Hourly Update

(Last Updated January 7, 2022 1:40 GMT)

Currently, EURNZD’s rate is up 17 pips (0.1%) from the hour prior. The hourly chart shows that EURNZD has seen 2 straight up hours. Regarding the trend, note that the strongest trend exists 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 97 pips (0.59%) since yesterday (opening today near 1.67461), marking the 2nd day in a row an increase has occurred. Compared to its peers in the Forex, EURNZD gave its buyers a return that ranked 6th in terms of percentage change since yesterday. Here is a price chart of EURNZD.

EURNZD

EURNZD Technical Analysis

Moving average crossovers are always interesting, so let’s start there: EURNZD crossed above its 200 day moving average yesterday. 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 39 pips away. It should be noted, though, the 20 day simple moving average turned upwards, which may be a bullish sign. Also of note is that on the 30 and 90 day bases price appears to be forming a base — which could the stage for it being a support/resistance level going forward. For additional context, note that price has gone down 8 out of the past 14 days.