• GBP/NZD declined on Wednesday as increased risk appetite , equity & commodity gains helped kiwi dollar across the board .
•The pair reaches 2.0692 after extending south from 2.0844 (early Asia high). 2.0692 is the lowest level since 12th March .
• Technical signals show the pair could lose more ground in the short-term as RSI is at 39 bearish, daily momentum studies 5, 10 and 21 DMAs are trending down.
• Immediate resistance is located at 2.0781 (38.2 % fib),any close above will push the pair towards 2.0870 (50 % fib ).
• Immediate support is seen at 2.0685 (23.6% fib) and break below could take the pair towards 2.0645 (Lower BB )
Recommendation: Good to sell below 2.0730, with stop loss of 2.0800 and target price of 2.0630
