EURNZD Down 6 Pips On Hourly Chart; Breaks Below 20 Day Average

Hourly Update

(Last Updated October 14, 2020 2:17 GMT)

At the time of this writing, EURNZD’s rate is down -6 pips (-0.03%) 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 50 hour timeframe. 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)

The choppiness in the recent daily price action of EURNZD continues; to start today, it came in at a price of 1.7649, down 120 pips (0.68%) since yesterday. Compared to its peers in the Forex, EURNZD gave its buyers a return that ranked 35th in terms of percentage change since yesterday. Here is a price chart of EURNZD.

EURNZD

EURNZD Technical Analysis

Moving average crossovers are always interesting, so let’s start there: EURNZD crossed below its 20 day moving average 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 200 day average, which is 0.4 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.