NZD/CHF may fall to 0.5224 - 0.5300

Our pivot point is at 0.5576.

Our preference

The downside prevails as long as 0.5576 is resistance.

Alternative scenario

The upside breakout of 0.5576, would call for 0.5703 and 0.5779.

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 0.5492 and 0.5481).

Supports and resistances

0.5779 **

0.5703 *

0.5576 **

0.5526

0.5474 last

0.5300

0.5224 **

0.5149 *

0.5074 **

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