Chart Of The Day: EURNZD

 | Dec 03, 2020 05:55PM ET

EUR/NZD 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 200-day moving average near the 1.7725 level. RSI is trending higher and was divergent the last couple weeks, warning traders of a possible bounce.