CAD/CHF may rise 22 - 31 pips

Our pivot point is at 0.6510.

Our preference

The upside prevails as long as 0.6510 is support.

Alternative scenario

The downside breakout of 0.6510 would call for 0.6494 and 0.6485.

Comment

The RSI is above 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 0.6525 and 0.6522).

Supports and resistances

0.6579 **

0.6569 *

0.6560 **

0.6551

0.6529 last

0.6516

0.6510 **

0.6494 *

0.6485 **

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