Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: GBP /NZD consolidating around 2.0430,bias is bullish

• GBP /NZD strengthened on Wednesday  after Fed kept its rates unchanged as expected.

• Federal Reserve held interest rates steady, as expected, but signaled that borrowing costs will increase by another 50 basis points (bps) by end-December.

• Technical signals are bullish as RSI is at 54,while moving averages and MACD are trending higher

• Immediate resistance is located at 2.0450 (5DMA), any close above will push the pair towards 2.0599 (June 12th high).

• Immediate support is seen at 2.0344 (38.2%fib) and break below could take the pair towards 2.0212 (May 25th low).

 Recommendation: Good to buy around 2.0420, with stop loss of 2.0320 and target price of 2.0500
 

  • Market Data
Close

Welcome to EconoTimes

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