NZD/CHF may fall 37 - 53 pips

0.5271 is our pivot point.

Our preference

The downside prevails as long as 0.5271 is resistance.

Alternative scenario

The upside breakout of 0.5271, would call for 0.5298 and 0.5314.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 0.5250 and 0.5250).

Supports and resistances

0.5314 **

0.5298 *

0.5271 **

0.5261

0.5249 last

0.5212

0.5196 **

0.5180 *

0.5164 **

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