• GBP/NZD rose to hit one month high on Monday as sterling attracted buyers ahead of UK Employment data.
• Delayed UK employment data on Tuesday will be watched for whether it reduces the odds of another BoE hike.
• Pair traded in 2.0838/2.0957 range ,a close above23.6%fib, will trigger a new bullish phase with potential for 2.1000
• Technical signals are bullish as RSI is at 63, daily momentum studies 5,9 and 10 DMAs are trending up.
• Immediate resistance is located at 2.0975 ( 23.6%fib), any close above will push the pair towards 2.1000 (Sep 15th high)
• Strong support is seen at 2.0856 (5DMA ) and break below could take the pair towards 2.0826(38.2%fib).
Recommendation: Good to buy around 2.0920 , with stop loss of 2.0750 and target price of 2.1000 .
