EUR/NZD Up 4 Pips On Hourly Chart, Makes Big Move Relative to Past Month; Came Into Today Down For the 2nd Straight Day

Hourly Update

(Last Updated July 15, 2021 2:4 GMT)

At the time of this writing, EURNZD’s rate is up 4 pips (0.02%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart 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 is down 144 pips (0.85%) since the day prior (opening today near 1.6811), marking the 2nd straight day a decline has happened. Compared to its peers in the Forex, EURNZD gave its buyers a return that ranked 37th in terms of percentage change since the day prior. Below is a price chart of EURNZD.

EURNZD

EURNZD Technical Analysis

First things first: EURNZD crossed below its 20, 50 and 100 day moving averages 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 100 day average, which is 3.7 pips away. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. For additional context, note that price has gone down 16 out of the past 30 days.