FX.co ★ USD/CHF: Upside

Overview:
USD/CHF is trading in higher range. The rate is supported by CHF sales on buoyant EUR/CHF cross; comment from SNB's Zurbruegg that CHF is still overvalued. But USD/CHF gains tempered by CHF demand on buoyant CHF/JPY as negative JPY sentiment supports on the cross. Data focus: 08:15 GMT Swiss January CPI. Daily chart is positive-biased as stochastic is rising from oversold; MACD is staging bullish crossover against its exponential moving average; bullish parabolic stop-and-reverse signal hit at 0.9207 this morning.
Preference:
Buy above 0.915 with targets at 0.922 and 0.925 in extension.
Resistance levels:
R1 - 0.922
R2 - 0.925
R3 - 0.9270 (Jan. 29 high)
Alternative scenario:
Sell below 0.915. Below 0.915 look for further downside with 0.911 and 0.906 as targets.
Support levels:
S1 - 0.911
S2 - 0.9062-0.9052 band (Thursday's low-Wednesday's low)
S3 - 0.9019 (Feb. 1 10-month low)
Technical comment:
The next resistances are at 0.922 and then at 0.925.