FxWirePro: GBP/NZD trades a narrow range, focus on UK industrial output data

GBP/NZD is extending consolidation phase, after edging higher from channel base support at 2.0625 (multi-month lows).

• The pair is stuck in a narrow range on the day, day's highs at 2.1115, lows at 2.1018.
   
• Series of resistances upto 2.1120, pair struggling to extend gains. 
   
• The MACD line has shown a bullish crossover on signal line. However, major moving averages are yet to turn.
   
• Stochs and RSI on daily charts have rolled over from oversold levels and are biased higher. 
   
• The MACD line has shown a bullish crossover on signal line. However, major moving averages are yet to turn.
   
• Immediate support is seen by 10-DMA at 2.0966, while resistance on the upside lies at 2.1100 (Mar 4th highs).
   
• Markets await UK industrial output data due ahead for further direction in the pair.