GBP/NZD may rise 76 - 113 pips

Our pivot point stands at 2.1443.

Our preference

As long as 2.1443 is support look for 2.1616.

Alternative scenario

The downside breakout of 2.1443 would call for 2.1381 and 2.1344.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 2.1499 and 2.1486).

Supports and resistances

2.1690 **

2.1653 *

2.1616 **

2.1579

2.1503 last

2.1468

2.1443 **

2.1381 *

2.1344 **

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