Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro:GBP/NZD uptrend looks tired, but continues to hold

• GBP/ NZD  strengthened  on Friday  as buyers emerged after solid U.S. jobs data.

• Nonfarm payrolls increased by 263,000 jobs last month, the Labor Department said in its closely watched employment report.

• The pair attempted to breach resistance at 38.2% fib and dipped towards 1.9767 level . A decisive break closure above 38.2% fib could generate further gains.

• Technical signals show the pair could gain more ground in the short-term as RSI is at 61 bullish, daily momentum studies  5, 9 and 11 DMAs are trending  up. 

• Immediate resistance is located at 1.9861 ( 38.2% fib), any close above will push the pair towards 2.0136 (23.6% fib).

• Immediate support is seen at 1.9668 (50% fib) and break below could take the pair towards 1.9593 (9DMA).

 Recommendation: Good to buy around 1.9760, with stop loss of 1.9600 and target price of 2.0000
 

  • Market Data
Close

Welcome to EconoTimes

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