• GBP/ NZD steadied around on Tuesday after data showed UK manufacturing recovered in February.
• British manufacturers reported their first overall growth in activity in 20 months in March.
• The S&P Global/CIPS UK Manufacturing Purchasing Managers' Index (PMI) rose to 50.3, higher than a preliminary March reading of 49.9 and up from February's 47.5.
• Technical highlight upside risks. The 5, 9 and 11-day moving averages lend support, daily RSI is rising at 62.
• Immediate resistance is located at 2.1112 (Daily high), any close above will push the pair towards 2.1183(23.6%fib).
• Support is seen at 2.1040 (9EMA) and break below could take the pair towards 2.0967 (38.2%fib).
Recommendation: Good to buy around 2.1020, with stop loss of 2.0900 and target price of 2.1120
