Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro:GBP/NZD remains bullish as rally continues

• GBP/ NZD rose on Thursday as rally was fuelled by hawkish  FOMC and lower commodities prices.

• Today’s rise has passed through the 38.2% fibonacci retrace point at 2.0299and now eyes the 2.0463 (23.6%fib).

• Technical signals show the pair could gain more ground in the short-term as RSI is at 77 ,daily momentum studies  5, 9 and 11 DMAs are trending  up. 

• Immediate resistance is located at 2.0382 (Higher BB), any close above will push the pair towards 2.0463 (23.6%fib).

• Support is seen at 2.0299(38.2%fib) and break below could take the pair towards 2.0234 (5DMA).

Recommendation: Good to buy around 2.0300, with stop loss of 2. 0200 and target price of 2.0380.
 

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.