NZD/CHF may rise 18 - 25 pips

Our pivot point is at 0.5587.

Our preference

Rebound towards 0.5624.

Alternative scenario

The downside breakout of 0.5587 would call for 0.5575 and 0.5568.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price is trading above its 20 period moving average (0.5598) but under its 50 period moving average (0.5603).

Supports and resistances

0.5638 **

0.5631 *

0.5624 **

0.5617

0.5599 last

0.5591

0.5587 **

0.5575 *

0.5568 **

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