USD/CHF is expected to trade in a higher range. The pair has broken above the 20- and 50-period intraday MAs, which are providing support. The intraday RSI is above its neutrality level at 50 and lacks downward momentum. As long as 0.9525 holds as the key support, look for a further advance to 0.9615. A break above this level would call for a further upside towards 0.9645.
Trading recommendations:
The pair is trading above its pivot point. It is likely to trade in a wider range as long as it remains above its pivot point. As long as the price holds above its pivot point, long positions are recommended with the first target at 0.9615 and the second target at 0.9645. In the alternative scenario, short positions are recommended with the first target at 0.95 if the price moves below its pivot points. A break of this target is likely to push the pair further downwards, and one may expect the second target at 0.9475. The pivot point is at 0.9525.
Resistance levels: 0.9615 0.9645 0.9695
Support levels: 0.95 0.9475 0.9450
