USD/CHF may rise 21 - 31 pips

Our pivot point is at 0.8487.

Our preference

As long as 0.8487 is support look for 0.8531.

Alternative scenario

The downside breakout of 0.8487 would call for 0.8469 and 0.8459.

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 above its 20 and 50 period moving average (respectively at 0.8499 and 0.8483).

Supports and resistances

0.8551 **

0.8541 *

0.8531 **

0.8521

0.8500 last

0.8493

0.8487 **

0.8469 *

0.8459 **

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