• GBP/NZD eased slightly but held near two month high as investors digested the Reserve Bank of New Zealand (RBNZ) interest rates decision .
• New Zealand's central bank slashed rates by 50 basis points on Wednesday and said policy is still restrictive even though inflation has returned to target.
• The decision to reduce the cash rate to 4.75% was in line with market pricing and most economists' expectations.
• Technical signals are bullish as RSI is trending up at 61, moving averages are pointing north
• Immediate resistance is located at 2.1587 (23.6% fib), any close above will push the pair towards 2.1645(Higher BB).
• Strong support is seen at 2.1478 (38.2% fib) and break below could take the pair towards 2.1386 (50% fib).
Recommendation: Good to buy around 2.1510 with stop loss of 2.1420 and target price of 2.1620
