CAD/CHF may rise 21 - 31 pips

Our pivot point stands at 0.6561.

Our preference

The upside prevails as long as 0.6561 is support.

Alternative scenario

The downside breakout of 0.6561 would call for 0.6543 and 0.6533.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 0.6579 and 0.6571). Finally, the CAD/CHF is trading above its upper Bollinger band (standing at 0.6585).

Supports and resistances

0.6641 **

0.6631 *

0.6620 **

0.6610

0.6589 last

0.6568

0.6561 **

0.6543 *

0.6533 **

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