GBP/NZD – headed up fast

Note: BOC Rate Statement Today

Bullish:  We are currently @ 2.0529 in the channel.   IF we can break resistance here, we are looking for a continuation to the 1.618 Fibo/ATR target @ 2.0603 with the overall target the day top @ 2.0667.  Watch the USDX for direction. The average daily true range (ATR) for the pair is 171 pips per day and it’s 180 day average is 195 pips per day. USDX is currently moving down.