GBP/NZD may rise 56 - 80 pips

Our pivot point is at 2.0873.

Our preference

As long as 2.0873 is support look for 2.0988.

Alternative scenario

Below 2.0873, expect 2.0832 and 2.0808.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 2.0906 and 2.0875).

Supports and resistances

2.1037 **

2.1013 *

2.0988 **

2.0964

2.0908 last

2.0889

2.0873 **

2.0832 *

2.0808 **

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