FxWirePro: Copper resumes rally, set to retest yearly highs at 4.364 as record Chinese imports in March fuel gains
FxWirePro : GBP/NZD bulls run higher, eyes 1.9400 level
• GBP/NZD gained on Thursday as expectations Britain’s speedy vaccination programme will help the economy to recover supported sterling.
• The rise in UK growth expectations, and diminished outlook for UK negative rates, has been a key factor in sterling's rise.
• The pair pierces 1.9290(38.2% fib), A daily close above 38.2% fib will take pair towards 1.9400 level.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 57 bullish, daily momentum studies 5, 10 and 21 DMAs are trending up.
• Immediate resistance is located at 1.9354(Higher BB), any close above will push the pair towards 1.9464 (23.6%fib).
• Strong support is seen at 1.9290(38.2% fib) and break below could take the pair towards 1.9146( 50%fib ).
Recommendation: Good to buy around 1.9300, with stop loss of 1.9200 and target price of 1.9400