FxWirePro- Currency Strength Index (4- Hour chart)- Currency pairs to watch (AUDUSD and USDCAD) for the day
FxWirePro:GBP/NZD attracts buying interest, 30DMA eyed
•GBP/ NZD strengthened on Wednesday as investors sold kiwi dollar after New Zealand's central bank delivered its seventh straight interest rate hike.
•The New Zealand dollar failed to benefit from RBNZ's 0.5% rate hike as investors already priced in rate hike by RBNZ.
•At GMT 20:40, the pair was trading up 1.21 percent at 1.9189 after reaching daily high at 1.9238.
•Immediate resistance is located at 1.9195(50%fib), any close above will push the pair towards 1.9254 (30DMA).
•Support is seen at 1.9125(11DMA) and break below could take the pair towards 1.9070 (61.8%fib).
Recommendation: Good to buy around 1.9180, with stop loss of 1.9125 and target price of 1.9270
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