The closest is the 200 day average, which is 111.2 pips away.
The closest is the 20 day average, which is 9.1 pips away.
The closest is the 20 day average, which is 24.2 pips away.
The closest is the 50 day average, which is 6.8 pips away.
This move happened on fewer tick price changes which may be a proxy for volume, as yesterday’s total tick count was down 27.6% from the day before — and down 30.57% from the same day the week before.
The closest is the 50 day average, which is 7.1 pips away.
On a relative basis, eur/nzd was the worst performer out of all 40 of the assets in the forex asset class.
As for the rationale, technical traders seem to be citing the appearance of a relative strength index technical pattern.
Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up.