GBP/NZD may fall to 2.0093 - 2.0300

Our pivot point stands at 2.1036.

Our preference

The downside prevails as long as 2.1036 is resistance.

Alternative scenario

The upside breakout of 2.1036, would call for 2.1385 and 2.1593.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 2.0826 and 2.0944).

Supports and resistances

2.1593 **

2.1385 *

2.1036 **

2.0899

2.0726 last

2.0300

2.0093 **

1.9885 *

1.9678 **

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