NZD/CHF may fall 22 - 32 pips

0.5230 is our pivot point.

Our preference

As long as 0.5230 is resistance look for 0.5180.

Alternative scenario

Above 0.5230, look for 0.5247 and 0.5257.

Comment

The RSI is below its neutrality area at 50. The MACD is positive and above its signal line. The break above the 50 area on the RSI would call for further upside. Moreover, the price is trading above its 20 period moving average (0.5211) but under its 50 period moving average (0.5214).

Supports and resistances

0.5257 **

0.5247 *

0.5230 **

0.5223

0.5212 last

0.5190

0.5180 **

0.5170 *

0.5160 **

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