GBP/NZD chart on Trading View used for analysis
- GBP/NZD trades 0.29% lower at 1.9205 at 0915 GMT, bias lower.
- The pair has failed to close above 200-DMA and recovery attempts are capped at 200-DMA which is offering stiff resistance.
- The pair is in the red for the 3rd straight session, eyes 110-EMA at 1.9119 on further weakness.
- Technical indicators are turning slightly bearish on the daily charts.
- We see strong support at 110-EMA at 1.9119, break below will see accentuation of weakness.
Support levels - 1.9119 (110-EMA), 1.91, 1.9030 (20-DMA)
Resistance levels - 1.9299 (200-DMA), 1.9425 (Jan 25 high), 1.9574 (61.8% Fib)
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
