FxWirePro: Copper resumes rally, set to retest yearly highs at 4.364 as record Chinese imports in March fuel gains
FxWirePro: AUD/USD pauses 4-day winning streak, trades weaker on downbeat China GDP and Industrial Production data
FxWirePro: GBP/NZD bull lose traction, cannot add to earlier gains
• GBP/NZD dipped on Tuesday as calm in bond markets benefited New Zealand dollar.
• Riskier currencies like New Zealand dollar continued to rebound from last week’s selloff as bond markets appeared to calm.
• GBP/NZD drifted back into negative territory. 1.9128 is low so far is and it is hovering just above 38.2%fib into the US afternoon
• Technical signals favours bearish sentiment, RSI is at 49 and pair trades below 5,9 & 11-DMAs.
• Resistance is located at 1.9296 ( 50%fib) and at 1.9286 (Higher BB).
• Support is found at 1.9079 (38.2%fib) and at 1.8926 (Lower BB).
Recommendation: Good to sell around 1.9170, with stop loss of 1.9350 and target price of 1.9030