GBP/NZD may rise 74 - 112 pips

Our pivot point stands at 2.1503.

Our preference

As long as 2.1503 is support look for 2.1675.

Alternative scenario

The downside breakout of 2.1503 would call for 2.1440 and 2.1403.

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 2.1539 and 2.1502).

Supports and resistances

2.1749 **

2.1712 *

2.1675 **

2.1637

2.1563 last

2.1527

2.1503 **

2.1440 *

2.1403 **

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