EURNZD Down 4 Pips On Hourly Chart; Breaks Below 50 Day Average

Hourly Update

(Last Updated April 22, 2021 2:19 GMT)

At the time of this writing, EURNZD’s rate is down -4 pips (-0.02%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

EURNZD End of Day Recap

Updated 00:30 GMT (04:30 EST)

EURNZD entered today at 1.67056, down 86 pips (0.51%) from the previous day. Out of the 39 instruments in the Forex asset class, EURNZD ended up ranking 34th for the day in terms of price change. Below is a price chart of EURNZD.

EURNZD

EURNZD Technical Analysis

Notably, EURNZD crossed below its 50 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 50 day average, which is 11.5 pips away. It should be noted, though, the 50 day simple moving average turned downwards, which may be a bearish sign. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. For additional context, note that price has gone up 7 out of the past 14 days.