NZD/CHF may rise 27 - 39 pips

Our pivot point stands at 0.5148.

Our preference

As long as 0.5148 is support look for 0.5207.

Alternative scenario

The downside breakout of 0.5148 would call for 0.5128 and 0.5117.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 0.5144 and 0.5099).

Supports and resistances

0.5231 **

0.5219 *

0.5207 **

0.5195

0.5168 last

0.5156

0.5148 **

0.5128 *

0.5117 **

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