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• GBP/NZD initially dipped on Wednesday but recovered ground as investors digested U.S. inflation data.
• The U.S. Consumer Price Index (CPI) climbed 0.1% last month after advancing 0.4% in February, the Labor Department said on Wednesday.
• Technical signals are bullisgas RSI is heading down at 68, daily momentum studies 5, 9 and 11 DMAs are trending up.
• Immediate resistance is located at 2.0091 (Daily high), any close above will push the pair towards 2.0168(23.6%fib).
• Immediate support is seen at 1.9951(38.2%fib) and break below could take the pair towards 1.9849 (10DMA).
Recommendation: Good to buy round 2.0060 with stop loss of 1.9950 and target price of 2.0140
