AUD/CHF may fall 28 - 38 pips

Our pivot point stands at 0.5894.

Our preference

The downside prevails as long as 0.5894 is resistance.

Alternative scenario

Above 0.5894, look for 0.5912 and 0.5923.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 0.5882 and 0.5884).

Supports and resistances

0.5923 **

0.5912 *

0.5894 **

0.5887

0.5877 last

0.5849

0.5839 **

0.5828 *

0.5817 **

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