Overview:
USD/CHF has consolidated in higher range after hitting a high of 0.935 . USD/CHF gains tempered by broadly weaker demand for safe-haven USD amid surge in investor risk appetite. Daily chart is positive-biased as MACD and stochastic are in bullish mode. The RSI is bullish and calls for further advance. It is recommended to take long positions above 0.9275 with targets at 0.935 and 0.9375 in extension. As long as 0.9275 is support, the pair is expected to trade in higher ranges, 0.92 is expected only if the pair breaks below 0.9275.
Preference:
Buy above 0.9275 with targets at 0.935 and 0.937 in extension.
Resistance levels:
R1 - 0.935
R2 - 0.937
R3 - 0.9395
Alternative scenario:
Sell Below 0.9275. 0.9275 look for further downside with 0.925 and 0.9225 as targets.
Support Levels:
S1 - 0.925
S2 - 0.9225
S3 - 0.92
Technical Comment:
The pair is facing a pullback but stands above its support.
