GBP/NZD intraday: as long as 1.9573 is support look for 1.9770

1.9573 is our pivot point.

Our preference: as long as 1.9573 is support look for 1.9770.

Alternative scenario: the downside breakout of 1.9573 would call for 1.9500 and 1.9456.

Comment: the RSI is trading above 70. This could mean that either the pair is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.9601 and 1.9519).

Supports and resistances:

1.9857 **

1.9813 *

1.9770 **

1.9726

1.9634 last

1.9602

1.9573 **

1.9500 *

1.9456 **

Head of Research at TRADING CENTRAL: Rémy GAUSSENS

TRADING CENTRAL is governed by the Code of Conduct of ANACOFI-CIF, an association approved by the Autorité des Marchés Financiers and registered with ORIAS under number 17005458.

Written on 03-20-2023 at 21:00 UTC+1

Price reference: 1.9634 last known on 03-20-2023 at 21:00 UTC+1

Investment horizon: INTRADAY