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FxWirePro: GBP/NZD under pressure after US CPI, knocking on door of key support

• GBP/NZD declined  on Tuesday after   data showed that headline U.S consumer prices rose modestly in November on an annual basis.

• US  consumer price index increased 0.1% last month after advancing 0.4% in October

• GBP/NZD drops swiftly from 1.9248   to test support  at 1.9080. GBP/NZD may near 1.9000 if   support  breaks at 1.9080.

• From a technical viewpoint, RSI  is strongly bearish at 43, daily momentum studies, 5, 10 and 11 daily  MAs are pointing lower.

• Immediate resistance is located at 1.9169 (5DMA), any close above will push the pair towards 1.9283 (38.2% fib).

• Immediate support is seen at 1.9080 (38.2%fib) and break below could take the pair towards 1.8892 (Lower BB).

Recommendation: Good sell  around 1.9140, with stop loss of 1.9200 and target price of 1.9080.

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