GBP/NZD may rise to 2.1226 - 2.1394

Our pivot point stands at 2.0616.

Our preference

Our next up target stands at 2.1394.

Alternative scenario

The downside breakout of 2.0616 would call for 2.0334 and 2.0167.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and negative. The MACD must break above its zero level to call for further upside. Moreover, the price is above its 20 and 50 period moving average (respectively at 2.0726 and 2.0845). Finally, the GBP/NZD has crossed above its upper Bollinger band (2.0838).

Supports and resistances

2.1730 **

2.1562 *

2.1394 **

2.1226

2.0860 last

2.0727

2.0616 **

2.0334 *

2.0167 **

Number of asterisks represents the strength of support and resistance levels.