GBP/NZD may rise 78 - 111 pips

2.1162 is our pivot point.

Our preference

Rebound.

Alternative scenario

Below 2.1162, expect 2.1107 and 2.1074.

Comment

The RSI is above 50. The MACD is above its signal line and negative. The MACD must break above its zero level to trigger further gains. Moreover, the price stands above its 20 period moving average (2.1188) but below its 50 period moving average (2.1222).

Supports and resistances

2.1384 **

2.1351 *

2.1319 **

2.1286

2.1208 last

2.1184

2.1162 **

2.1107 *

2.1074 **

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