• GBP/ NZD strengthened on Tuesday above-forecast UK wage growth data boosted sterling.
• Official figures showed British wages excluding bonuses were 7.3% higher in the three months to May than a year earlier.
• A rally towards 2.100 is possible if GBP/ NZD bulls overcome resistance at 23.6%fib.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 64,while moving averages and MACD are trending higher.
• Immediate resistance is located at 2.0925 ( 23.6%fib), any close above will push the pair towards 2.0965 (Higher BB).
• Immediate support is seen at 2.0707 (38.2%fib) and break below could take the pair towards 1.20678 (14DMA).
Recommendation: Good to buy around 2.0850 with stop loss of 2.0710 and target price of 2.0950
