• GBP/NZD dipped towards 2.0780 level on Wednesday as traders digested Britain's latest fiscal plans.
• Finance Minister Jeremy Hunt offered no surprises in his latest statement, announcing a two percentage point cut to National Insurance Contributions (NICs), while freezing fuel and alcohol duty, as rumoured before the announcement.
•The pair reaches 2.0781 after extending south from 2.0922 ( Daily high). 2.0781 is the lowest level since March 4th 2024.
• Technical signals are bullish as RSI is higher at 56, daily momentum studies 9, 11 and 14 EMAs are trending up.
• Immediate resistance is located at 2.0922(23.6 % fib),any close above will push the pair towards 2.1000(Psychological level ).
• Immediate support is seen at 2.0746 (38.2% fib) and break below could take the pair towards 2.0725 (9EMA )
Recommendation: Good to buy around 2.0750 , with stop loss of 2.0670 and target price of 2.0850
