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GBP/NZD extended gains after breaking out of its consolidation phase and hits 2-week highs of 2.1506 on Thursday's trade.
- The pair has cooled off slightly after 4 consecutive sessions of gains, momentum still with the bulls.
- Upside finds immediate resistance at 2.1569 (Feb 22nd highs), further bullishness could take the pair to 2.1733 which is 23.6% Fib retrace of 2.53187 to 2.06251 fall and Feb 18th highs.
- Moving averages have turned higher and offer strong support on the downside at 2.1211 and 2.1116, 5 and 10 DMA respectively.
- Our previous call (http://www.econotimes.com/FxWirePro-GBP-NZD-breaks-consolidation-phase-good-to-buy-dips-target-217-levels-176031) is progressing, hold for targets.
