CAD/CHF may rise 26 - 37 pips

Our pivot point stands at 0.6458.

Our preference

As long as 0.6458 is support look for 0.6516.

Alternative scenario

The downside breakout of 0.6458 would call for 0.6439 and 0.6429.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is below its 20 period moving average (0.6482) but above its 50 period moving average (0.6472).

Supports and resistances

0.6537 **

0.6526 *

0.6516 **

0.6505

0.6479 last

0.6465

0.6458 **

0.6439 *

0.6429 **

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