GBP/NZD intraday: the downside prevails as long as 1.9782 is resistance

Our pivot point stands at 1.9782.

Our preference: the downside prevails as long as 1.9782 is resistance.

Alternative scenario: above 1.9782, look for 1.9856 and 1.9900.

Comment: the RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 1.9729 and 1.9734).

Supports and resistances:

1.9900 **

1.9856 *

1.9782 **

1.9753

1.9713 last

1.9618

1.9574 **

1.9530 *

1.9486 **

Head of Research at TRADING CENTRAL: Rémy GAUSSENS

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Written on 04-03-2023 at 19:28 UTC+1

Price reference: 1.9713 last known on 04-03-2023 at 19:28 UTC+1

Investment horizon: INTRADAY