EUR/NZD Up 7 Pips Over Past Hour, Moves Up For the 3rd Straight Day; Breaks Above 50 Day Average

Hourly Update

(Last Updated November 10, 2022 1:49 GMT)

At the time of this writing, EURNZD’s rate is up 7 pips (0.04%) from the hour prior. This is the 2nd straight hour EURNZD has seen its price head up. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on EURNZD. Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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 up 110 pips (0.65%) since the day prior (opening today near 1.7017), marking the 3rd straight day it has gone up. Compared to its peers in the Forex, EURNZD gave its buyers a return that ranked 7th in terms of percentage change since the day prior. Here is a price chart of EURNZD.

EURNZD

EURNZD Technical Analysis

First things first: EURNZD crossed above its 50 day moving average yesterday. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed up. For additional context, note that price has gone down 16 out of the past 30 days.