• GBP/ NZD strengthen on Thursday as hotter-than-expected US consumer price data boosted the pair.
• GBP/ NZD reaches 2.0346 after extending north from 2.0223 (Feb 10 low). A breakout above 2.0354(38.2%fib) would 2.0440(Feb 8th High) in play.
• From a technical viewpoint, RSI is strongly bullish at 60, daily momentum studies, 5, 10 and 11 daily MAs are pointing higher.
• Immediate resistance is located at 2.0354(38.2%fib), any close above will push the pair towards 2.0354(38.2%fib).
• Support is seen at 2.0270(21DMA) and break below could take the pair towards 2.0232(38.2%fib) .
• Recommendation: Good to buy around 2.0350, with stop loss of 2.0230 and target price of 2.0450
