Ransquawk

The price action on the GBPNZD recently does not look appealing. The rate fluctuates near the support area, where the horizontal level of 1.8930 coincides with the trend line running from the low of August last year. Perhaps there will soon be some resolution. We are talking about overcoming the support area discussed above. Such behavior of the price action would open the way to a decline towards 1.8620, where this year’s minimums are located. The next level of support is visible around 1.8375. Alternatively, in case of increases, the inflow of sell offers may become active around 1.9430. It is where this year’s maximum levels fall out.

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Ransquawk