CAD/CHF – Currency exchange rate forecast 06.06.2019: the upside prevails as long as 0.7402 is support

CAD/CHF - Currency exchange rate forecast 06.06.2019: the upside prevails as long as 0.7402 is support

The configuration is positive.

0.7402 is our pivot point.

Our preference: the upside prevails as long as 0.7402 is support.

Alternative scenario: the downside breakout of 0.7402 would call for 0.7379 and 0.7366.

Comment: the RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the pair is above its 20 and 50 MAs (respectively at 0.7414 and 0.7409).

Supports and resistances:

0.7491 **

0.7477 *

0.7464 **

0.7450

0.7420 last

0.7411

0.7402 **

0.7379 *

0.7366 **