USD/CHF may rise 21 - 31 pips

0.8564 is our pivot point.

Our preference

Rebound towards 0.8608.

Alternative scenario

Below 0.8564, expect 0.8546 and 0.8536.

Comment

The RSI is below 30. It could either mean that the pair is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 0.8611 and 0.8676).

Supports and resistances

0.8629 **

0.8619 *

0.8608 **

0.8598

0.8577 last

0.8570

0.8564 **

0.8546 *

0.8536 **

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