NZD/CHF may rise 20 - 28 pips

Our pivot point is at 0.5509.

Our preference

The upside prevails as long as 0.5509 is support.

Alternative scenario

Below 0.5509, expect 0.5495 and 0.5486.

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 0.5507 and 0.5505). Finally, the NZD/CHF is trading above its upper Bollinger band (standing at 0.5525).

Supports and resistances

0.5570 **

0.5562 *

0.5553 **

0.5545

0.5525 last

0.5514

0.5509 **

0.5495 *

0.5486 **

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