CAD/CHF may rise to 0.6785 - 0.6835

Our pivot point stands at 0.6599.

Our preference

The upside prevails as long as 0.6599 is support.

Alternative scenario

The downside breakout of 0.6599 would call for 0.6515 and 0.6464.

Comment

The RSI is above its neutrality area at 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 0.6649 and 0.6633).

Supports and resistances

0.6936 **

0.6885 *

0.6835 **

0.6785

0.6677 last

0.6632

0.6599 **

0.6515 *

0.6464 **

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