• GBP/ NZD strengthened on Tuesday as hawkish comments from Bank of England and rally in equity boosted pound.
• BoE chief economist Huw Pill said on Tuesday the central bank would need to raise interest rates further in the near future to tackle surging inflation.
• Today’s rise has passed through the 14DMA at 1.9420 and now eyes the 38.2%fib resistence.
• Immediate resistance is located at 1.9465(38.2%fib), any close above will push the pair towards 1.9514 (Higher BB).
• Support is seen at 1.9375(14DMA) and break below could take the pair towards 1.9320 (50%fib).
Recommendation: Good to buy around 1. 9390, with stop loss of 1. 9250 and target price of 1. 9460
