FxWirePro: USD/JPY grinds lower, dollar shows broad-based weakness as Fed drops some hawkish rhetoric
FxWirePro: GBP/NZD getting back on track for a run towards 1.9300,good to buy on dips
• GBP/NZD strengthened on Thursday as rise was sparked by less hawkish than expected comments from Fed Chair Jerome Powell and risk-on outflows.
• GBP/NZD is now on course to register a close below the 1.9271 (38.2% fib) level, chart points to bigger gains towards 1.9300 level.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 51 bullish, and moving averages are trending higher.
• Immediate resistance is located at 1.9250 ( 21DMA), any close above will push the pair towards 1.9271 (38.2% fib).
• Immediate support is seen at 1.9228 (38.2% fib) and break below could take the pair towards 1.9186 (61.8% fib).
Recommendation: Good to buy around 1.9240, with stop loss of 1.9160 and target price of 1.9300