CAD/CHF may fall 36 - 49 pips

Our pivot point is at 0.6200.

Our preference

Target 0.6125.

Alternative scenario

Above 0.6200, look for 0.6223 and 0.6236.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price is below its 20 period moving average (0.6190) but above its 50 period moving average (0.6162). Finally, the CAD/CHF has penetrated its lower Bollinger band (0.6177).

Supports and resistances

0.6236 **

0.6223 *

0.6200 **

0.6191

0.6174 last

0.6138

0.6125 **

0.6111 *

0.6098 **

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