USD/CHF is expected to trade with a bullish bias above 0.9875. The pair has reversed up, and is expected to challenge its next resistance at 0.9915 in the coming trading hours. The relative strength index is also bullish above its neutrality area at 50. Last but not least, the 50-perod moving average is still on the upside, which should confirm a positive outlook.
Hence, above 0.9875, look for a new rise to 0.9915 and 0.9935 in extension.
Chart Explanation: The black line shows the pivot point. The present price above the pivot point indicates a bullish position, and the price below the pivot points indicates a short position. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades.
Strategy: BUY, Stop Loss: 0.9875, Take Profit: 0.9915
Resistance levels: 0.9915, 0.9935, and 0.9975
Support levels: 0.9850, 0.9835, and 0.9800
