GBP/NZD may rise 79 - 116 pips

Our pivot point is at 2.1475.

Our preference

As long as 2.1475 is support look for 2.1656.

Alternative scenario

Below 2.1475, expect 2.1413 and 2.1376.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is below its 20 period moving average (2.1548) but above its 50 period moving average (2.1511).

Supports and resistances

2.1731 **

2.1694 *

2.1656 **

2.1619

2.1540 last

2.1500

2.1475 **

2.1413 *

2.1376 **

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