CAD/CHF may rise 23 - 33 pips

Our pivot point is at 0.6247.

Our preference

The upside prevails as long as 0.6247 is support.

Alternative scenario

The downside breakout of 0.6247 would call for 0.6230 and 0.6219.

Comment

The RSI is above 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 0.6265 and 0.6265).

Supports and resistances

0.6321 **

0.6311 *

0.6300 **

0.6290

0.6267 last

0.6254

0.6247 **

0.6230 *

0.6219 **

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