Chart of the Day: EURNZD

Blake Morrow Forex Analytix

The EURNZD found support at a long term 88.6% Fibonacci retracement which the pair has rallied from the last couple sessions. Previous support was at the 1.7150 level in July and a decisive break back above the 1.7200 level may signal a move back towards the 200dma near the 1.7725 level. RSI is trending higher and was divergent the last couple weeks warning traders of a possible bounce.

Author

Blake Morrow

Forex Analytix

Blake Morrow spent most of his professional career as the Chief Currency Strategist for Wizetrade group for 15 years, and then the Senior Currency Strategist for Ally Financial after the acquisition of Tradeking which owned the Wizetrade Group.

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