• GBP/ NZD gained on Tuesday as UK rapid vaccine deployment and upbeat comments by BoE Governor Andrew Bailey helped the pound versus the New Zealand dollar.
• Bulls tighten their grip after registering a close above the 1.9352 (50%fib),scope grows for bigger gains towards 1.9500.
• Technical signals are strongly bullish as RSI is bullish at 62, 5, 9,11 DMAs are trending up.
• Immediate resistance is located at 1.9509 (38.2%fib), any close above will push the pair towards 1.9576 (Nov 4th 2020 high).
• Immediate support is seen at 1.9352 (50%fib) and break below could take the pair towards 1.9300 (Psychological level).
Recommendation: Good buy around 1.9400, with stop loss of 1.9250 and target price of 1.9520
