EURNZD Down 14 Pips in Last Hour, 2 Day Down Streak Ended; Breaks Above 20 and 200 Day Averages

Hourly Update

(Last Updated October 16, 2020 3:18 GMT)

At the time of this writing, EURNZD’s rate is down -14 pips (-0.08%) 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 50 hour timeframe. Of note is that the 200 hour changed directions on EURNZD; it is now pointing down. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 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 entered today at 1.77433, up 100 pips (0.57%) from yesterday. Relative to other instruments in the Forex asset class, EURNZD ranked 5th yesterday in terms of percentage price change. 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 20 and 200 day moving averages 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 20 day average, which is 16.2 pips away. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 14 days EURNZD’s price has gone up 8 them.