• GBP/NZD declined on Thursday as improved risk sentiment and higher commodity prices boosted commodity linked kiwi dollar
• The is pair heading towards 2.0900, as near term direction of the pair is likely to be driven by current price action.
• Technical are bearish, daily RSI is negative is, daily momentum studies 9 and 14 EMAs are trending down.
• Immediate resistance is located at 2..1013 (9EMA), any close above will push the pair towards 2..1114 (April 3rd).
• Strong support is seen at 2..0954 (38.2% fib)and break below could take the pair towards 2..0881 (March 18th low).
Recommendation: Good to sell on around 2..1000, with stop loss of 2..1100, and target price of 2..0900
