• GBP /NZD rose on Wednesday as pound was boosted by above forecast UK inflation data.
• Data showed Britain's annual rate of CPI accelerated to 4% in December from 3.9% in November which was its lowest in more than two years.
• Hotter than expected UK CPI is blow for doves advocating spring BoE rate cut.
• The pairs rise above the 38.2% fib has reinforced the growing bullish strength, putting focus on 2.0900 level.
• Immediate resistance is located at 2.0782 (Daily high), any close above will push the pair towards 2.0872 (23.6% fib).
• Immediate support is seen at 2.0686(38.2% fib) and break below could take the pair towards 2.0570 (50%fib).
Recommendation: Good to buy on dips around 2.0760, with stop loss of 2.0680 and target price of 2.0900
