The EURNZD finds key resistance ahead of the RBNZ rate decision.

The EURNZD has squeezed higher as a result of risk aversion the last few sessions, but we have stalled at a downtrend line and the 88.6% Fibonacci extension ahead of the RBNZ rate decision today. A move above the 1.7225 would signal a return towards the 1.7500 level, but a rejection here could send the pair back towards the 200dma.

EURNZD at T/L Resistance

Blake Morrow