FxWirePro: GBP/CHF edges higher from session lows, lower-than-expected plunge in UK Retail Sales supports pound
FxWirePro- Currency Strength Index (4- Hour chart)- Currency pairs to watch(AUDUSD and DXY) for the day
FxWirePro:GBP/NZD buoyancy keeps consolidation intact, set for further gains
• GBP/ NZD rose on Friday as the pairs rally was fuelled by as a slide in global stock markets.
• Equity markets was spooked on expectation that the US Federal Reserve will adopt an even more hawkish outlook at next week's monetary policy meeting amid persistent inflation.
• Today’s rise has passed through the 5DMA and next the pair eyes the 2.0200 level.
• Immediate resistance is located at 2.0188 (23.6%fib), any close above will push the pair towards 2.0245 (23.6%fib).
• Support is seen at 2.0093(5DMA) and break below could take the pair towards 2.0020 (38.2%fib).
Recommendation: Good to buy around 2.0100, with stop loss of 2.0000 and target price of 2.0210