Overview:
USD/CHF is trading with higher ranges. The rate is undermined by broadly weaker demand for safe-haven USD amid improved investor risk appetite.
Preference:
Buy above 0.9425 with 0.949 and 0.9515 in sight.
Resistance Levels:
0.9491 (Friday's high)
0.9515 (Tuesday's high)
0.9531 (100-day moving average)
Alternative scenario:
Sell below 0.9425. The downside breakout of 0.9425 will open the way to 0.941 and 0.9385.
Support Levels:
S1 - 0.9416 (Friday's low)
S2 - 0.9385
S3 - 0.9355
Technical Comment:
The pair stands above its support and should post a rebound. Daily chart is mixed as MACD is bullish, but stochastics is falling from overbought.
