USD/CHF may rise 22 - 32 pips

0.8899 is our pivot point.

Our preference

As long as 0.8899 is support look for 0.8946.

Alternative scenario

The downside breakout of 0.8899 would call for 0.8881 and 0.8870.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the pair is trading under its 20 period moving average (0.8915) but above its 50 period moving average (0.8903).

Supports and resistances

0.8968 **

0.8957 *

0.8946 **

0.8936

0.8914 last

0.8906

0.8899 **

0.8881 *

0.8870 **

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