NZD/CHF may rise 31 - 47 pips

Our pivot point stands at 0.5246.

Our preference

As long as 0.5246 is support look for 0.5315.

Alternative scenario

The downside breakout of 0.5246 would call for 0.5220 and 0.5205.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 0.5265 and 0.5260).

Supports and resistances

0.5346 **

0.5331 *

0.5315 **

0.5299

0.5268 last

0.5257

0.5246 **

0.5220 *

0.5205 **

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