USD/CHF may rise 24 - 34 pips

Our pivot point stands at 0.8618.

Our preference

The upside prevails as long as 0.8618 is support.

Alternative scenario

Below 0.8618, expect 0.8600 and 0.8590.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 0.8620 and 0.8623). Finally, the USD/CHF is trading above its upper Bollinger band (standing at 0.8634).

Supports and resistances

0.8689 **

0.8679 *

0.8668 **

0.8658

0.8634 last

0.8625

0.8618 **

0.8600 *

0.8590 **

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