GBP/NZD may fall 99 - 147 pips

2.1283 is our pivot point.

Our preference

The downside prevails as long as 2.1283 is resistance.

Alternative scenario

Above 2.1283, look for 2.1364 and 2.1412.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 2.1218 and 2.1231).

Supports and resistances

2.1412 **

2.1364 *

2.1283 **

2.1251

2.1212 last

2.1113

2.1065 **

2.1017 *

2.0969 **

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