GBP/NZD may fall 77 - 114 pips

Our pivot point stands at 2.1523.

Our preference

As long as 2.1523 is resistance look for 2.1354.

Alternative scenario

The upside breakout of 2.1523, would call for 2.1586 and 2.1623.

Comment

The RSI is below its neutrality area at 50. The MACD is positive and above its signal line. The break above the 50 area on the RSI would call for further upside. Moreover, the price stands below its 20 and 50 period moving average (respectively at 2.1475 and 2.1480).

Supports and resistances

2.1623 **

2.1586 *

2.1523 **

2.1499

2.1468 last

2.1391

2.1354 **

2.1317 *

2.1280 **

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