FxWirePro- Currency Strength Index (4- Hour chart)- Currency pairs to watch (EURUSD and AUDUSD) for the day)
FxWirePro:GBP/NZD soured risk drives longs to exit ahead of US jobs data
• GBP/ NZD dipped on Thursday as investors unwind longs positions ahead of US payrolls data.
• GBP/ NZD overnight drop has resumed and bears are gaining momentum for run towards 38.2%fib support.
• Technicals lean bearish as is RSI falling, long legged doji is in place
• Immediate resistance is located at 1.9761 (38.2%fib), any close above will push the pair towards 1.9970 (Oct 3rd high).
• Support is seen at 1.9534 (38.2%fib) and break below could take the pair towards 1.9463 (11DMA).
Recommendation: Good to sell around 1.9720, with stop loss of 1.9900 and target price of 1.9550