Overview:
USD/CHF is trading in higher range after hitting five-week low of 0.9251 on Tuesday. The rate is underpinned by positive USD sentiment; broadly stronger demand for safe-haven USD as risk aversion increases.
Preference:
Buy above 0.9295 with 0.936 and 0.939 as next targets.
Resistance Levels:
R1 - 0.9358 (Friday's high)
R2 - 0.9393 (Thursday's high)
R3 - 0.9425
Alternative scenario:
Sell below 0.9295.The downside penetration of 0.9275 will call for 0.9275 and 0.925.
Support Levels:
S1 - 0.9275 band (Tuesday's low-Oct. 2 low)
S2 - 0.925
S3 - 0.92
Technical Comment:
The pair is rebounding as the RSI is turning up. Daily chart is mixed as MACD is bearish, but stochastics is turning bullish at oversold; bullish outside-day-range pattern was completed on Tuesday.
