FxWirePro: GBP/NZD rebounds from 1.9430, outlook bullish

• GBP/NZD rose on Wednesday as the effect of the hawkish RBNZ was offset by increasing expectations of the Fed.

•U.S. central bank turned hawkish at last week's monetary policy meeting, reinforcing the market view for a sooner-than-expected Fed taper and interest rate hike.

• At GMT 19:06, the pair was trading 0.60% higher at 1.9555 after hitting daily high at 1.9570.  

• Technical signals are bullish as RSI is at 53, daily momentum studies  5, 10 & 21 DMAs track north.

• Immediate resistance is located at 1.9570 (Daily high), any close above will push the pair towards 1.9645 (9DMA).

• Strong support is seen at 1.9536 (50%fib) and break below could take the pair towards 1.9428 (38.2%fib).

Recommendation: Good to buy around 1.9550, with stop loss of1.9470 and target price of 1.9640.