Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: GBP/NZD claws back some ground, bulls set to regain control

• GBP/NZD retreated   on Thursday as currencies early gains evaporated  as traders awaited U.S. NFP data release  on Friday.

• Friday's NFP data may provide some extreme moves and a potential test of the technical levels depending on how the data comes in.

• GBP/NZD dipped near 1.9733, but losses were limited by demand near 1.9690 (5DMA ). 

• GBP/NZD remains bullish , only a close back below  1.9500 level , could upset the bullish order.

• Immediate resistance is located at 1.9824(38.2%fib ), any close above will push the pair towards 1.9894(Higher BB).

• Strong support is seen at 1.9690 (5DMA )and break below could take the pair towards 1.9582 (50%fib).

Recommendation: Good to buy  around 1.9660, with stop loss of 1.9500 and target price of 1.9780


 

  • Market Data
Close

Welcome to EconoTimes

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