NZD/CHF may fall 19 - 27 pips

0.5494 is our pivot point.

Our preference

As long as 0.5494 is resistance look for 0.5450.

Alternative scenario

The upside breakout of 0.5494, would call for 0.5508 and 0.5516.

Comment

The RSI is below 50. The MACD is above its signal line and positive. The break above the 50 area on the RSI would call for further upside. Moreover, the price stands below its 20 and 50 period moving average (respectively at 0.5478 and 0.5483).

Supports and resistances

0.5516 **

0.5508 *

0.5494 **

0.5489

0.5477 last

0.5458

0.5450 **

0.5441 *

0.5433 **

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