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.