The USD/CHF pair is expected to continue further its upside movement. The pair is challenging the first upside target at 1.0175 while trading above the rising 20-period and 50-period moving averages. The relative strength index is supported by a rising trend line and is above its neutrality level of 50. As long as 1.0175 holds as the key support, look for a further upside with 1.0220 and 1.0250.
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 1.0220 and the second target at 1.0250. In the alternative scenario, short positions are recommended with the first target at 1.0145 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 1.0115. The pivot point is at 1.0175.
Resistance levels: 1.0220 1.0250 1.0275
Support levels: 1.0145 1.0115 1.0075
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