GBP/NZD may rise 61 - 91 pips

Our pivot point is at 2.0686.

Our preference

Rebound towards 2.0821.

Alternative scenario

The downside breakout of 2.0686 would call for 2.0635 and 2.0605.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 2.0731 and 2.0760).

Supports and resistances

2.0881 **

2.0851 *

2.0821 **

2.0791

2.0730 last

2.0705

2.0686 **

2.0635 *

2.0605 **

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