GBP/NZD may rise 58 - 86 pips

Our pivot point stands at 2.0678.

Our preference

As long as 2.0678 is support look for 2.0809.

Alternative scenario

The downside breakout of 2.0678 would call for 2.0631 and 2.0603.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 2.0722 and 2.0700).

Supports and resistances

2.0865 **

2.0837 *

2.0809 **

2.0781

2.0723 last

2.0697

2.0678 **

2.0631 *

2.0603 **

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