Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro:GBP/NZD positions for another climb, eyes 1.9250 level

• GBP/NZD steadied on Tuesday as hotter than expected U.S. inflation data  and lower commodity prices weighed on kiwi dollar.

• Oil prices swung lower after hotter than expected inflation data and renewed COVID-19 curbs in China, the world's second-largest oil consumer  weighed on crude prices.

• The pair currently is approaching resistance at 50DMA. A break above   would unmask 1.9250 level in the short term.

• Technical signals show the pair could gain more ground in the short-term as RSI is at 55,while moving averages are trending higher. 

• Immediate resistance is located at 1.9158( 50DMA), any close above will push the pair towards 1.9209(23.6%fib).

• Immediate support is seen at 1.9122 (38.2%fib) and break below could take the pair towards 1.9047 (5DMA).

Recommendation: Good to buy around 1.9150, with stop loss of 1.9050 and target price of 1.9250
 

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.