GBP/NZD may rise 76 - 107 pips

Our pivot point is at 2.1740.

Our preference

The upside prevails as long as 2.1740 is support.

Alternative scenario

The downside breakout of 2.1740 would call for 2.1687 and 2.1656.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 2.1779 and 2.1761).

Supports and resistances

2.1960 **

2.1928 *

2.1897 **

2.1866

2.1790 last

2.1760

2.1740 **

2.1687 *

2.1656 **

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