Overview:
USD/CHF is expected to trade with bullish bias. The RSI lacks downward momentum. Daily chart is mixed as MACD is turning bullish, but stochastics is bearish at overbought.
Trading recommendation:
The pair is trading above its pivot point. It is likely to trade in a higher range as far as it remains above its pivot point. As far as the price is above its pivot point, a long position is recommended with the first target at 0.8945 and the second target at 0.897 in mind. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 0.8855.The breach of this target will move the pair further downwards and one may expect the second target at 0.8825. The pivot point stands at 0.888.
Resistance levels:
0.8945
0.897
0.9
Support levels:
0.8855
0.8825
0.88
