• GBP/ NZD rose on Wednesday as New Zealand fell after RBNZ announced rate hike.
• Kiwi dollar eased despite hawkish projections, as market expected of a 50 BP hike.
• Today’s rise has passed through the 38.2% fibonacci retrace point and now eyes the 23.6%fib.
• Immediate resistance is located at 1.9418 (23.6%fib), any close above will push the pair towards 1.9455(Ichimoku Cloud Base).
• Support is seen at 1.9315(38.2%fib) and break below could take the pair towards 1.9299 (50%fib).
• Recommendation: Good to buy around 1. 9380, with stop loss of 1. 9300 and target price of 1. 9450
