AUD/CHF – Currency exchange rate forecast 05.06.2019: the upside prevails as long as 0.6920 is support

AUD/CHF - Currency exchange rate forecast 05.06.2019: the upside prevails as long as 0.6920 is support

Alternative scenario: the downside breakout of 0.6920 would call for 0.6896 and 0.6882.

0.6920 is our pivot point.

Our preference: the upside prevails as long as 0.6920 is support.

Alternative scenario: below 0.6920, expect 0.6896 and 0.6882.

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 trading above both its 20 and 50 MAs (respectively at 0.6939 and 0.6938).

Supports and resistances:

0.7013 **

0.6999 *

0.6985 **

0.6971

0.6940 last

0.6930

0.6920 **

0.6896 *

0.6882 **