FxWirePro: AUD/USD extends previous session's weakness, aussie shrugs off upbeat Australian Retail Sales data
FxWirePro:GBP/NZD beginning to trend higher but hurdle ahead
• GBP/ NZD rose on Wednesday as optimism of UK Finance minister Rishi Sunak's budget promise lifted the pair.
• Rishi Sunak delivered an annual budget speech in which he announced a costly extension to emergency aid programmes and tax hikes for businesses.
• At GMT 17:28, the pair was last trading at 1.9229, highest level since late March 1st.
• GBP/ NZD bulls look set to break resistance 1.9261.Break of that resistance could lead to test of 1.9347 resistance(23.6%fib).
• Immediate resistance is located at 1.9261 (Daily high), any close above will push the pair towards 1.9359 (38.2%fib).
• Support is seen at 1.9215 (50%fib) and break below could take the pair towards 1.9157(9DMA).
• Recommendation: Good to buy around 1. 9200, with stop loss of 1.9050, target price of 1. 9300