USD/CHF is expected to trade with a bullish outlook. The pair edged higher last night. Currently, the prices are consolidating above both rising 20-period and 50-period moving averages, which maintain the upside bias. The relative strength index stands firmly above its neutrality level at 50 and lacks downward momentum.
The U.S. dollar was little changed as investors awaited details of the proposed new U.S. import tariffs on steel and aluminum.
Therefore, as long as 0.9400 is not broken, look for a new rise with targets at 0.9445 and 0.9475 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 point 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 at 0.9400, take profit at 0.9445.
Resistance levels: 0.9475, 0.9500, and 0.9540
Support levels: 0.9375, 0.9355, and 0.9300.
