CAD/CHF may rise 25 - 35 pips

Our pivot point is at 0.6234.

Our preference

As long as 0.6234 is support look for 0.6291.

Alternative scenario

The downside breakout of 0.6234 would call for 0.6217 and 0.6206.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the pair is trading under its 20 period moving average (0.6257) but above its 50 period moving average (0.6250).

Supports and resistances

0.6312 **

0.6302 *

0.6291 **

0.6281

0.6256 last

0.6241

0.6234 **

0.6217 *

0.6206 **

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