EURNZD Up 6 Pips in Last Hour, in a Downtrend Over Past 30 Days; is Inching Close to 20 Day Average

Hourly Update

(Last Updated November 15, 2021 18:18 GMT)

At the moment, EURNZD’s rate is up 6 pips (0.03%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. Regarding the trend, note that the strongest trend exists 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 1.62405, down 64 pips (0.39%) since the previous day. Relative to other instruments in the Forex asset class, EURNZD ranked 37th the previous day 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 and 50 day averages, located at 1.623 and 1.6491 respectively, and thus may be at a key juncture along those timeframes. 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. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 10 days EURNZD’s price has gone up 5 them.