Overview:
USD/CHF is trading in a higher range. The rate is underpinned by broadly stronger demand for safe-haven USD as risk appetite wanes. But USD/CHF gains tempered by caution ahead of tomorrow's U.S. non-farm payrolls data.
Preference:
Buy above 0.9295 with 0.9345 and 0.9375 as next targets.
Resistance Levels:
R1 - 0.9345
R2 - 0.9374 (Tuesday's high)
R3 - 0.9381-0.9386 (Monday's high-Friday's high)
Alternative scenario:
Sell below 0.9295 .The downside breakout of 0.9295 will open the way to 0.9285 and 0.927.
Support Levels:
S1 - 0.9285
S2 - 0.9273 (Wednesday's low)
S3 - 0.9255 (Oct. 23 low)
Technical Comment:
The pair is rebounding. Daily chart is mixed as MACD is bullish, but stochastics is in bearish mode.
