GBP/NZD may rise 68 - 99 pips

Our pivot point is at 2.1623.

Our preference

As long as 2.1623 is support look for 2.1768.

Alternative scenario

The downside breakout of 2.1623 would call for 2.1571 and 2.1540.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 2.1665 and 2.1653).

Supports and resistances

2.1830 **

2.1799 *

2.1768 **

2.1737

2.1669 last

2.1644

2.1623 **

2.1571 *

2.1540 **

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