• GBP/NZD rose sharply on Friday as lower commodities prices and Yuan weakness weighed on Australian dollar.
• At GMT 17:34, the pair was trading up 1.27 percent at 2.0116 after reaching daily high at 2.0154.
• Technicals are bullish as RSI is at 54 and the pair is trading below 5 & 11-DMAs.
• Immediate resistance is located at 2.0151 (23.6 fib), any close above will push the pair towards 2.0250(May 4th high)
• Support is seen at 2.0044 (11DMA ) and break below could take the pair towards 1.9922 (38.2% fib).
Recommendation: Good to buy around 2.0090, with stop loss of 1.9900 and target price of 2.0180
