• GBP /NZD strengthened on Wednesday after Fed kept its rates unchanged as expected.
• Federal Reserve held interest rates steady, as expected, but signaled that borrowing costs will increase by another 50 basis points (bps) by end-December.
• Technical signals are bullish as RSI is at 54,while moving averages and MACD are trending higher
• Immediate resistance is located at 2.0450 (5DMA), any close above will push the pair towards 2.0599 (June 12th high).
• Immediate support is seen at 2.0344 (38.2%fib) and break below could take the pair towards 2.0212 (May 25th low).
Recommendation: Good to buy around 2.0420, with stop loss of 2.0320 and target price of 2.0500
