FxWirePro- Currency Strength Index (4- Hour chart)- Currency pairs to watch(USDCHF and CADJPY) for the day
FxWirePro: GBP/NZD positions for another climb, eyes 2.0300 level
• GBP/NZD extended its yesterday’s bounce as risk-sensitive New Zealand dollar fell amid escalating worries about both a potential military conflict in Ukraine .
• GBP/NZD remains offered despite Russia-Ukraine tensions , the pound has gained 0.09% versus the New Zealand dollar.
• Technical signals are bullish as RSI is at 72, daily momentum studies 50 DMA, 5 EMA are trending up.
• Immediate resistance is located at 2.0202 ( 23.6%fib), any close above will push the pair towards 2.0275 ( Higher BB).
• Strong support is seen at 2.0152 (5 DMA) and break below could take the pair towards 2.0042 (38.2%fib).
Recommendation: Good to buy around 2.0150, with stop loss of 2.0050 and target price of 2.0180.