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• GBP/ NZD strengthened on Friday as upbeat British retail sales data supported sterling against kiwi dollar.
• British retail sales unexpectedly rebounded by 1.2% in February from the month before, Economists polled had forecast that retail sales volumes in February would be 0.2% higher than in January.
• The pair picked up upside momentum and is approaching 23.6% fib resistance. A close above will opens up 1.9800 level.
• Immediate resistance is located at 1.9720(23.6% fib), any close above will push the pair towards 1.9776(Higher BB).
• Support is seen at 1.9639 (Daily low) and break below could take the pair towards 1.9580(38.2% fib).
Recommendation: Good to buy around 1.9690, with stop loss of 1.9600 and target price of 1.9770
