EUR/NZD Up 27 Pips Over Past Hour, 2 Day Up Streak Broken; in an Uptrend Over Past 30 Days

Hourly Update

(Last Updated September 22, 2022 1:39 GMT)

Currently, EURNZD’s rate is up 27 pips (0.16%) from the hour prior. The hourly chart shows that EURNZD has seen 2 straight up hours. As for the trend on the hourly timeframe, we see the clearest trend on the 50 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)

The choppiness in the recent daily price action of EURNZD continues; to start today, it came in at a price of 1.6808, down 109 pips (0.64%) since the day prior. Relative to other instruments in the Forex asset class, EURNZD ranked 28th the day prior in terms of percentage price change. Here is a price chart of EURNZD.

EURNZD

EURNZD Technical Analysis

Coming into today EURNZD is now close to its 20, 100 and 200 day averages, located at 1.6486, 1.6455 and 1.6456 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 321.9 pips away. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 10 days EURNZD’s price has gone up 6 them.