NZD/CHF may fall 22 - 32 pips

Our pivot point stands at 0.5229.

Our preference

The downside prevails as long as 0.5229 is resistance.

Alternative scenario

The upside breakout of 0.5229, would call for 0.5247 and 0.5257.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 0.5221 and 0.5221). Finally, the NZD/CHF is trading below its lower Bollinger band (standing at 0.5208).

Supports and resistances

0.5257 **

0.5247 *

0.5229 **

0.5223

0.5202 last

0.5180

0.5170 **

0.5160 *

0.5150 **

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