GBP/NZD breaks support at 2.1395, targets 2.1100
GBP/NZD hits fresh half-yearly lows at 2.1298, downside accelerating as we write.
The pair has been trading a falling wedge, has hit wedge top resistance at 2.1997 and retraced from there.
Brexit worries continue to weigh on the sterling, while the Kiwi stands supported on a rebound in commodity prices.
Immediate support and resistance are seen at 2.1145 (May 22nd 2015 lows) and 2.1568 (Session highs).
We see scope for further downside, we recommend holding short call (link below) for 2.1100 levels.
The pair has been trading a falling wedge, has hit wedge top resistance at 2.1997 and retraced from there.
Brexit worries continue to weigh on the sterling, while the Kiwi stands supported on a rebound in commodity prices.
Immediate support and resistance are seen at 2.1145 (May 22nd 2015 lows) and 2.1568 (Session highs).
We see scope for further downside, we recommend holding short call (link below) for 2.1100 levels.
