NZD/CHF may rise 21 - 32 pips

Our pivot point is at 0.5489.

Our preference

As long as 0.5489 is support look for 0.5536.

Alternative scenario

The downside breakout of 0.5489 would call for 0.5471 and 0.5461.

Comment

The RSI is above 50. 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 0.5501 and 0.5497).

Supports and resistances

0.5557 **

0.5546 *

0.5536 **

0.5525

0.5504 last

0.5496

0.5489 **

0.5471 *

0.5461 **

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