Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: GBP/NZD range to extend until there is game changing news

• GBP/NZD rose higher   on Thursday  as GBP  benefited from  ECB rate hike decision and Credit Suisse's bailout.

• GBP/NZD remains bullish, only a break and daily close below  38.2%fib support at 1.9506 will shift bias to the downside.

• Technicals are favouring bullish sentiment as RSI is at 61 and the pair is trading above 9, 11 & 21-DMAs. 

• Immediate resistance is located at 1.9656 (23.6%fib ), any close above will push the pair towards 1.9711 (Higher BB).

• Strong support is seen at 1.9552(5DMA) and break below could take the pair towards 1.9506(38.2%fib).

Recommendation: Good to buy   around 1.9630, with stop loss of 1.9550 and target price of 1.9720
 

  • Market Data
Close

Welcome to EconoTimes

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