(Last Updated September 17, 2021 1:18 GMT)
Currently, EURNZD’s rate is up 7 pips (0.04%) from the hour prior. EURNZD has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. Regarding the trend, note that the strongest trend exists on the 20 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 1.65734, down 59 pips (0.35%) from the day prior. Relative to other instruments in the Forex asset class, EURNZD ranked 32nd the day prior in terms of percentage price change. The price chart of EURNZD below illustrates.
EURNZD Technical Analysis
Notably, EURNZD is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. 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 201.6 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 down. For additional context, note that price has gone down 9 out of the past 14 days.