USD/CHF may rise 23 - 34 pips

Our pivot point stands at 0.8828.

Our preference

Our next up target stands at 0.8877.

Alternative scenario

The downside breakout of 0.8828 would call for 0.8810 and 0.8799.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and negative. The MACD must break above its zero level to call for further upside. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 0.8842 and 0.8842).

Supports and resistances

0.8898 **

0.8888 *

0.8877 **

0.8866

0.8843 last

0.8835

0.8828 **

0.8810 *

0.8799 **

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