FxWirePro:GBP/NZD slides on vaccine politics ,critical support at lies ahead
• GBP/NZD dipped on Monday as risk of European Union ban on vaccine exports to UK weighed on sterling. • The European Union has threatened to take tougher measures to curb the export of COVID-19 vaccines, escalating an o…
• GBP/NZD dipped on Monday as risk of European Union ban on vaccine exports to UK weighed on sterling.
• The European Union has threatened to take tougher measures to curb the export of COVID-19 vaccines, escalating an ongoing row with Britain over their restrictive handling of vaccine deliveries to the 27-nation bloc.
• At GMT 17:43, the pair was trading down 0.02 percent at 1.9322 after reaching daily low at 1.9264.
• Technicals are favouring bearish sentiment as RSI is turning lower and the pair is trading below 11 & 21-DMAs.
• Immediate resistance is located at 1.9342 (5DMA), any close above will push the pair towards 1.9451 (50%fib).
• Strong support is seen at 1.9248 (38.2%fib ) and break below could take the pair towards 1.9155 (50DMA).
Recommendation: Good to sell around 1.9330, with stop loss of 1.9450 and target price of 1.9250.
