GBP/NZD hits new 11-month lows at 2.0417, targets 1&2 hit
The pair has been trading a falling wedge and is extending downside along falling wedge top. No respite from bears for now.
Targets 1 and 2 on earlier call (link below achieved). Advise booking partial profits.
The pair now sees resistance at 2.0537 (5-DMA), ahead of 2.0632 (10-DMA) and 2.0850 (Wedge top).
On the other side, supports are seen at 2.0248 (May 7th 2015 low), 2.0071 (Apr 30th 2015 lows) and then 2.0050 (May 6th 2015 lows).
Targets 1 and 2 on earlier call (link below achieved). Advise booking partial profits.
The pair now sees resistance at 2.0537 (5-DMA), ahead of 2.0632 (10-DMA) and 2.0850 (Wedge top).
On the other side, supports are seen at 2.0248 (May 7th 2015 low), 2.0071 (Apr 30th 2015 lows) and then 2.0050 (May 6th 2015 lows).
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