NZD/CHF may rise 24 - 34 pips

Our pivot point stands at 0.5436.

Our preference

As long as 0.5436 is support look for 0.5492.

Alternative scenario

The downside breakout of 0.5436 would call for 0.5418 and 0.5408.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 0.5458 and 0.5456).

Supports and resistances

0.5514 **

0.5503 *

0.5492 **

0.5482

0.5458 last

0.5443

0.5436 **

0.5418 *

0.5408 **

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