FxWirePro- Currency Strength Index (4- Hour chart)- Currency pairs to watch (EURUSD and AUDUSD) for the day)
FxWirePro: GBP/NZD claws back some ground, bulls set to regain control
• GBP/NZD initially dipped on Wednesday but recovered some ground after the Fed hiked rates and indicated more tightening ahead.
• GBP/NZD fell as far as 1.9173, and was last trading up 0.19% at 1.9281.
• Technical signals are bullish as RSI is at 59, daily momentum studies 10,11 and 14 DMAs are trending up.
• Immediate resistance is located at 1.9305 (Sep 14th high ), any close above will push the pair towards 1.9350 (23.6%fib).
• Strong support is seen at 1.9237 (38.2% fib) and break below could take the pair towards 1.9187 (9DMA).
Recommendation: Good to buy around 1.9260, with stop loss of 1.9150 and target price of 1.9330