AUD/CHF may rise 21 - 32 pips

Our pivot point is at 0.5989.

Our preference

The upside prevails as long as 0.5989 is support.

Alternative scenario

The downside breakout of 0.5989 would call for 0.5972 and 0.5961.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 0.6001 and 0.5994). Finally, the AUD/CHF is trading above its upper Bollinger band (standing at 0.6014).

Supports and resistances

0.6072 **

0.6061 *

0.6050 **

0.6039

0.6018 last

0.5997

0.5989 **

0.5972 *

0.5961 **

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