(Last Updated November 24, 2022 1:41 GMT)
Currently, EURNZD’s rate is up 9 pips (0.05%) from the hour prior. This is the 2nd consecutive hour 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 is down 102 pips (0.61%) since yesterday (opening today near 1.6633), marking the 2nd day in a row a decline has happened. Relative to other instruments in the Forex asset class, EURNZD ranked 29th yesterday in terms of percentage price change. The price chart of EURNZD below illustrates.
EURNZD Technical Analysis
First things first: EURNZD crossed below its 100 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 100 day average, which is 38.9 pips away. 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. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. It should be noted, though, that a trend in the opposite direction, going up, exists on the 90 day timeframe. For additional context, note that price has gone down 18 out of the past 30 days.