EUR/NZD Up 19 Pips Over Past Hour, 4 Day Down Streak Broken; in an Uptrend Over Past 30 Days

Hourly Update

(Last Updated December 28, 2021 1:43 GMT)

At the time of this writing, EURNZD’s rate is up 19 pips (0.11%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. 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)

A moment of silence, please, for the end of EURNZD’s 4 day down streak; price ended yesterday up 29 pips (0.18%) to finish the day at a rate of 1.66231. Out of the 39 instruments in the Forex asset class, EURNZD ended up ranking 20th for the day in terms of price change. Here is a price chart of EURNZD.

EURNZD

EURNZD Technical Analysis

The first thing we should note is that EURNZD is now close to its 20, 50, 100 and 200 day averages, located at 1.6658, 1.6404, 1.6565 and 1.6717 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 20 day average, which is 34.4 pips away. 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. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. For additional context, note that price has gone down 8 out of the past 14 days.