GBP/NZD may rise 77 - 114 pips

Our pivot point stands at 2.1502.

Our preference

The upside prevails as long as 2.1502 is support.

Alternative scenario

The downside breakout of 2.1502 would call for 2.1439 and 2.1402.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 2.1541 and 2.1522).

Supports and resistances

2.1750 **

2.1713 *

2.1676 **

2.1639

2.1562 last

2.1527

2.1502 **

2.1439 *

2.1402 **

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