• GBP/NZD after initially falling the pair recovered some ground after data showed UK retail sales beat expectations in May.
•British retail sales volumes rose 2.9% in May, rising sharply from a revised 1.8% fall in April when heavy rain kept shoppers away, the Office for National Statistics.
• In an up-and-down session, the pair hit low at 2.0617 in early trading then recovered towards 2.0656.
• Technical signals bullish as RSI is down at 43, daily momentum studies 5, and 9 DMAs are trending down.
• Immediate resistance is located at 2.0716 (5DMA), any close above will push the pair towards 2.0782 (38.2%fib).
• Strong support is seen at 2.0617 (23.6%fib) and break below could take the pair towards 2.0571(Lower BB )
Recommendation: Good to sell around 2.0680 with stop loss of 2.0780 and target price of 2.0580
