USD/CHF may rise 21 - 32 pips

Our pivot point stands at 0.8613.

Our preference

The upside prevails as long as 0.8613 is support.

Alternative scenario

The downside breakout of 0.8613 would call for 0.8596 and 0.8585.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 0.8618 and 0.8623). Finally, the USD/CHF has crossed above its upper Bollinger band (0.8629).

Supports and resistances

0.8683 **

0.8673 *

0.8663 **

0.8652

0.8631 last

0.8620

0.8613 **

0.8596 *

0.8585 **

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