USD/CHF is expected to trade with a bullish outlook. The pair posed a sharp rebound with a bullish divergence signal from the relative strength index. In addition, the 20-period moving average turned upward and crossed above the 50-period one. Hence, as long as 0.9990 is not broken, look for the continuation of the bounce with targets at 1.0070 and 1.0100 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 0.9990, take profit at 1.0070.
Resistance levels: 1.0070, 1.0100, and 1.0130
Support levels: 0.9955, 0.9930, and 0.9890
