GBP/NZD has shown a breakout at 200-DMA, raising scope for further upside.
The pair has broken major trendline resistance at 1.9125, bias bullish.
Technical studies support upside.
Next major bull target lies at 1.9426 (Jan 25 high) ahead of 61.8% Fib at 1.9574.
We see weakness on retrace and close below 200-DMA.
Support levels - 1.9250 (200-DMA), 1.9167 (5-DMA)
Resistance levels - 1.9426 (Jan 25 high), 1.9574 (61.8% Fib)
Good to go long on dips, SL: 1.9250, TP: 1.9425/ 1.95/ 1.9570
The pair has broken major trendline resistance at 1.9125, bias bullish.
Technical studies support upside.
Next major bull target lies at 1.9426 (Jan 25 high) ahead of 61.8% Fib at 1.9574.
We see weakness on retrace and close below 200-DMA.
Support levels - 1.9250 (200-DMA), 1.9167 (5-DMA)
Resistance levels - 1.9426 (Jan 25 high), 1.9574 (61.8% Fib)
Good to go long on dips, SL: 1.9250, TP: 1.9425/ 1.95/ 1.9570
Note
TP1/2 hit. Book partial profits at highs.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.