GBP/NZD may rise 89 - 132 pips

Our pivot point stands at 2.1192.

Our preference

Rise to 2.1385.

Alternative scenario

Below 2.1192, expect 2.1118 and 2.1075.

Comment

The RSI is below 50. The MACD is positive and above its signal line. The break above the 50 area on the RSI should trigger further gains. Moreover, the price is above its 20 and 50 period moving average (respectively at 2.1251 and 2.1249).

Supports and resistances

2.1473 **

2.1429 *

2.1385 **

2.1342

2.1253 last

2.1221

2.1192 **

2.1118 *

2.1075 **

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