• GBP/ NZD strengthened on Thursday weaker than expected NZ CPI data weighed on kiwi dollar.
• New Zealand dollar slipped after the data showed inflation was not quite as hot as feared, softening expectations the RBNZ would again hike rates by 50 basis points in May.
• Today’s rise has passed through the 38.2%fib fibonacci retrace point at 1.9349 and now eyes 1.9500 level
• Immediate resistance is located at 1.9413 (Higher BB), any close above will push the pair towards 1.9589 (50%fib).
• Support is seen at 1.9349 (38.2%fib) and break below could take the pair towards 1.9118 (14DMA)
• Recommendation: Good to buy around 1.9350, with stop loss of 1.9200 and target price of 1.9450
