GBP/NZD may rise 58 - 86 pips

Our pivot point is at 2.0643.

Our preference

Rebound towards 2.0772.

Alternative scenario

The downside breakout of 2.0643 would call for 2.0596 and 2.0568.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 2.0686 and 2.0697).

Supports and resistances

2.0828 **

2.0800 *

2.0772 **

2.0744

2.0686 last

2.0662

2.0643 **

2.0596 *

2.0568 **

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