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FxWirePro :GBP/NZD hovers around 1.9325 as market await FOMC minutes

• GBP/NZD initially dipped but recovered some ground  on Tuesday   as risk sentiment overcame dour China COVID news, but gains were limited ahead of   Fed's  November meeting .

• Investors awaited minutes from the Fed's November meeting, due on Wednesday, for any cues about the outlook for interest rates.

•The pair is   testing resistence  1.9321 (5DMA), a daily close above   will accelerate upside towards 1.9400 level.

• Technicals are favouring bullish sentiment as RSI is at 51 while, moving averages are trending north.

• Immediate resistance is located at 1.9321 (5DMA), any close above will push the pair towards 1.9529(23.6%fib)

• Support is seen at 1.9229(38.2%fib)and break below could take the pair towards 1.9139(Nov 4th low).

Recommendation: Good to buy around 1.9320, with stop loss of 1.9200 and target price of  1.9400.

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