GBP/NZD may rise 84 - 121 pips

Our pivot point stands at 2.1434.

Our preference

The upside prevails as long as 2.1434 is support.

Alternative scenario

The downside breakout of 2.1434 would call for 2.1371 and 2.1334.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 2.1482 and 2.1482).

Supports and resistances

2.1683 **

2.1645 *

2.1608 **

2.1571

2.1487 last

2.1458

2.1434 **

2.1371 *

2.1334 **

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