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• GBP/NZD declined on Tuesday as commodity-linked currencies like kiwi got a boost from higher commodities prices and gains in equities.
• Choppy price action leads to retreat but buyers emerged near 1.9436, the pair has seen a 1.9668-1.9411 range, on Tuesday
•Technical are bullish, daily RSI is positive at 58, daily momentum studies 9 and 10 DMAs are trending up.
• Immediate resistance is located at 1.9511(38.2%fib), any close above will push the pair towards 1.9668 (23.6%fib).
• Immediate support is seen at 1.9423 (38.2%fib) and break below could take the pair towards 1.9379 (9DMA).
Recommendation: Good to sell round 1.9450, with stop loss of 1.9300 and target price of 1.9520
