GBP/NZD may rise 56 - 83 pips

Our pivot point is at 2.0658.

Our preference

The upside prevails as long as 2.0658 is support.

Alternative scenario

The downside breakout of 2.0658 would call for 2.0612 and 2.0585.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 2.0697 and 2.0691).

Supports and resistances

2.0842 **

2.0815 *

2.0788 **

2.0761

2.0705 last

2.0676

2.0658 **

2.0612 *

2.0585 **

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