CAD/CHF may rise 22 - 33 pips

0.6542 is our pivot point.

Our preference

The upside prevails as long as 0.6542 is support.

Alternative scenario

The downside breakout of 0.6542 would call for 0.6524 and 0.6514.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 0.6556 and 0.6556). Finally, the CAD/CHF has crossed above its upper Bollinger band (0.6565).

Supports and resistances

0.6619 **

0.6608 *

0.6598 **

0.6587

0.6565 last

0.6549

0.6542 **

0.6524 *

0.6514 **

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