AUD/CHF may rise 27 - 40 pips

0.5769 is our pivot point.

Our preference

As long as 0.5769 is support look for 0.5827.

Alternative scenario

The downside breakout of 0.5769 would call for 0.5747 and 0.5734.

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 0.5786 and 0.5778).

Supports and resistances

0.5853 **

0.5840 *

0.5827 **

0.5814

0.5787 last

0.5777

0.5769 **

0.5747 *

0.5734 **

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