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FxWirePro: GBP/NZD tests 110-EMA at 1.91, break above eyes 200-DMA

GBP/NZD chart on Trading View used for analysis

  • GBP/NZD trades 0.48% higher on the day at 1.9097 at 0845 GMT.
     
  • The pair has tested resistance at 110-EMA at 1.9102, break above to see further gains.
     
  • Technical indicators are biased higher. Stochastics and RSI are sharply higher.
     
  • Price action has broken above 55-EMA and 38.2% Fib.
     
  • Break above 110-EMA eyes next major resistance at 200-DMA at 1.93.
     
  • Immediate support lies at 5-DMA at 1.8918. Break below 21-EMA to see downside extension.

Call update: Our previous call (https://www.econotimes.com/FxWirePro-GBP-NZD-recovery-capped-at-55-EMA-further-gains-only-on-break-above-1485261) has hit TP1/2.

Recommendation: Book partial profits at lows. Hold for further gains.

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex
 

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