GBP/NZD may rise 75 - 112 pips

2.1438 is our pivot point.

Our preference

As long as 2.1438 is support look for 2.1633.

Alternative scenario

Below 2.1438, expect 2.1376 and 2.1339.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 2.1514 and 2.1496).

Supports and resistances

2.1707 **

2.1670 *

2.1633 **

2.1596

2.1521 last

2.1463

2.1438 **

2.1376 *

2.1339 **

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