• GBP/NZD extended gains towards 2.0800 level on Tuesday as the pair was swept up following release of US CPI data.
• The rallied towards 23.6%fib resistance at 2.0818. Sustained break at 23.6%fib resistence would open the door to 2.0900 level
• Technical are bullish, daily RSI is negative at 64, daily momentum studies 9 and 10 DMAs are trending up.
• Immediate resistance is located at 2.0818 (23.6%fib ), any close above will push the pair towards 1.9644 2.0888 (5th March high).
• Strong support is seen at 2.0674(38.2%fib) and break below could take the pair towards 2.0634 (7Feb low)
Recommendation: Good to buy around 2.0790, with stop loss of 2.0700 and target price of 2.0870
