EUR/NZD Up 8 Pips in Last Hour, 4 Day Up Streak Broken; Eyes 20 Day Average

Hourly Update

(Last Updated September 23, 2021 2:3 GMT)

At the time of this writing, EURNZD’s rate is up 8 pips (0.05%) from the hour prior. This is the 2nd hour in a row EURNZD has seen its price head up. As for the trend on the hourly timeframe, we see the clearest trend 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, which opened today priced near 1.67253, is down 25 pips 0.15% since yesterday, marking a reversal from the day prior — and the end of a 4 day positive run. Relative to other instruments in the Forex asset class, EURNZD ranked 24th yesterday in terms of percentage price change. Let’s take a look at price chart of EURNZD.

EURNZD

EURNZD Technical Analysis

The first thing we should note is that the current price of EURNZD is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 30 pips away. It should be noted, though, the 100 day simple moving average turned upwards, which may be a bullish sign. 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 30 days EURNZD’s price has gone up 15 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.