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• GBP/NZD rebounded towards 2.0980 level on Wednesday as the pair was swept up following release of US CPI data.
• The rallied towards 2.1019 (23.6%fib ). Sustained break would open the door towards 2.1100 level
• Technical are bullish, daily RSI is bullish at 53, daily momentum studies 9 and 10 DMAs are trending up.
• Immediate resistance is located at 2.1019 (23.6%fib ), any close above will push the pair towards 1.9644 2.1123 (April 3rd high).
• Strong support is seen at 2.0885(38.2%fib) and break below could take the pair towards 2.0855 (Lower BB)
Recommendation: Good to buy around 2.0980 with stop loss of 2.0900 and target price of 2.1100
