Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: GBP/NZD extends gains, faces 23.6%fib resistance

• 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
 

  • Market Data
Close

Welcome to EconoTimes

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