GBP/NZD may rise 70 - 102 pips

2.0654 is our pivot point.

Our preference

Rebound towards 2.0800.

Alternative scenario

The downside breakout of 2.0654 would call for 2.0602 and 2.0570.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 2.0708 and 2.0722).

Supports and resistances

2.0862 **

2.0831 *

2.0800 **

2.0768

2.0698 last

2.0675

2.0654 **

2.0602 *

2.0570 **

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