GBP/NZD may rise 59 - 87 pips

Our pivot point is at 2.0684.

Our preference

As long as 2.0684 is support look for 2.0816.

Alternative scenario

The downside breakout of 2.0684 would call for 2.0637 and 2.0609.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 2.0726 and 2.0704).

Supports and resistances

2.0872 **

2.0844 *

2.0816 **

2.0788

2.0729 last

2.0702

2.0684 **

2.0637 *

2.0609 **

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