NZD/CHF may fall 19 - 28 pips

Our pivot point stands at 0.5536.

Our preference

The downside prevails as long as 0.5536 is resistance.

Alternative scenario

Above 0.5536, look for 0.5550 and 0.5559.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 0.5537 and 0.5539). Finally, the NZD/CHF has penetrated its lower Bollinger band (0.5521).

Supports and resistances

0.5559 **

0.5550 *

0.5536 **

0.5531

0.5519 last

0.5500

0.5491 **

0.5483 *

0.5474 **

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