GBP/NZD may rise 66 - 97 pips

Our pivot point stands at 2.1700.

Our preference

As long as 2.1700 is support look for 2.1840.

Alternative scenario

Below 2.1700, expect 2.1647 and 2.1616.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the pair is trading under its 20 period moving average (2.1744) but above its 50 period moving average (2.1720).

Supports and resistances

2.1903 **

2.1871 *

2.1840 **

2.1809

2.1743 last

2.1720

2.1700 **

2.1647 *

2.1616 **

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