• GBP/NZD strengthened on Tuesday after UK pay growth remained strong.
• Basic pay rose by 6.7% in the three months to March compared with the same period last year, picking up slightly from 6.6% in the three months to February.
• Technical are bullish, daily RSI is negative at 51, daily momentum studies 9 and 10 DMAs are trending up.
• Immediate resistance is located at 2.0146 (23.6%fib ), any close above will push the pair towards 2.0256(Apr 26th High).
• Strong support is seen at 2.0006 (11DMA) and break below could take the pair towards 1.9956 (38.2%fib)
Recommendation: Good to buy around 2.0000, with stop loss of 1.9900 and target price of 2.0100
