USD/CHF may rise 24 - 34 pips

0.8845 is our pivot point.

Our preference

As long as 0.8845 is support look for 0.8895.

Alternative scenario

The downside breakout of 0.8845 would call for 0.8827 and 0.8816.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 0.8856 and 0.8844).

Supports and resistances

0.8917 **

0.8906 *

0.8895 **

0.8885

0.8861 last

0.8852

0.8845 **

0.8827 *

0.8816 **

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