GBP/NZD may rise 59 - 88 pips

2.1344 is our pivot point.

Our preference

Our next up target stands at 2.1484.

Alternative scenario

The downside breakout of 2.1344 would call for 2.1295 and 2.1265.

Comment

The RSI is above 50. The MACD is negative and above its signal line. 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 2.1386 and 2.1396).

Supports and resistances

2.1543 **

2.1513 *

2.1484 **

2.1455

2.1396 last

2.1363

2.1344 **

2.1295 *

2.1265 **

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