USD/CHF is expected to trade with a bullish bias. The pair broke above its 20-period MA, which acts as support. Furthermore, the ascending 50-period MA suggests that the pair still has potential for further upside. The intraday RSI is bullish calling for further upside. As long as 0.9680 holds on the downside, look for further upside to 0.9795. A break above this level would call for a further advance to 0.9825.
Trading recommendations:
The pair is trading above its pivot point. It is likely to trade in a wider range as long as it remains above its pivot point. As long as the price holds above its pivot point, long positions are recommended with the first target at 0.9795 and the second target at 0.9825. In the alternative scenario, short positions are recommended with the first target at 0.9635 if the price moves below its pivot points. A break of this target is likely to push the pair further downwards, and one may expect the second target at 0.9665. The pivot point is at 0.9680.
Resistance levels: 0.9795 0.9825 0.9860
Support levels: 0.9635 0.9580 0.9525
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