EUR/NZD Up 2 Pips Over Past Hour, in a Downtrend Over Past 90 Days; Eyes 50 Day Average

Hourly Update

(Last Updated April 29, 2022 1:42 GMT)

At the moment, EURNZD’s rate is up 2 pips (0.01%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as EURNZD has now gone down 4 of the past 5 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 entered today at 1.61825, up 47 pips (0.29%) from yesterday. Compared to its peers in the Forex, EURNZD gave its buyers a return that ranked 16th in terms of percentage change since yesterday. 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 moving averages, which may act as price barrier for the asset. The clearest trend exists on the 14 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 16 out of the past 30 days.