• GBP/NZD initially dipped on Thursday but rebounded after BoE as expected to raised rates for 11th consecutive time, by to 4.25%.
• Bank of England (BoE) raised interest rates and said it expects the surge in British inflation to cool faster than before. Markets took BoE statement as dovish.
• In an up-and-down session, the pair hit low at 1.9579 in early US trading then gained towards 19663 level.
• Technical signals are bullish as RSI is at 60, daily momentum studies 5,9,21 DMA are trending north.
• Immediate resistance is located at 1.9742 (23.6%fib ), any close above will push the pair towards 1.9776 (Higher BB).
• Strong support is seen at 1.9588 (9DMA) and break below could take the pair towards 1.9512 (38.2%fib).
Recommendation: Good to sell around 1.9660 with stop loss of 1.9540 and target price of 1.9730 .
