AUD/CHF may fall 29 - 37 pips

Our pivot point stands at 0.5966.

Our preference

The downside prevails as long as 0.5966 is resistance.

Alternative scenario

Above 0.5966, look for 0.5980 and 0.5988.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 0.5977 and 0.5983). Finally, the AUD/CHF has penetrated its lower Bollinger band (0.5953).

Supports and resistances

0.5988 **

0.5980 *

0.5966 **

0.5961

0.5953 last

0.5924

0.5916 **

0.5908 *

0.5900 **

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