Overview:
USD/CHF is trading with risks skewed lower. The rate is undermined broadly by weaker demand for safe-haven USD amid decreased risk aversion.
Preference:
The pair is moving upside so preferable position is long. Buy above 0.9245 with first targets 0.9305 and 0.933.
Resistance Levels:
R1 - 0.9305
R2 - 0.9337 (Oct. 16 high)
R3 - 0.9371 (Oct. 15 high)
Alternative scenario:
Sell below 0.9245, look for further downside with 0.923 and 0.921 as targets.
Support Levels:
0.9234 (Friday's low)
0.9210 (Wednesday's low)
0.9191 (May 8 low)
Technical Comment:
The pair is on the upside and is approaching its resistance. Daily chart is mixed as MACD is bearish, but stochastics is rising from oversold.
