• GBP/ NZD gained on Tuesday as sterling was boosted by jobs data showing that Britain’s unemployment fell between January and March.
• The pair attempted to breach resistance at 1.9625 ( 23.6%fib) and dipped towards 1.9559 level . A decisive break closure above 1.9625 could generate further gains.
• Any downside correction is likely to be temporary as barrier at 1.9493(38.2%fib) is set to restricting lower move.
• Immediate resistance is located at 1.9625 ( 23.6%fib), any close above will push the pair towards 1.9544 (5DMA).
• Immediate support is seen at 1.9493(38.2%fib) and break below could take the pair towards 1.9318 (50%fib).
Recommendation: Good to buy around 1.9540, with stop loss of 1.9470 and target price of 1.9640
