USD/CHF is expected to trade in a higher range as the bias remains bullish. The pair is moving sideways above its key support of 0.9925. Meanwhile, the relative strength index stands above 50. Further upside is therefore expected with the next horizontal resistance and overlap at 0.9990 first. A breakout above this level would call for a further advance toward 1.0015.
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 0.9990 and the second target at 1.0015. In the alternative scenario, short positions are recommended with the first target at 0.99 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 0.9875. The pivot point is at 0.9925.
Resistance levels: 0.9990 1.0015 1.0060
Support levels: 0.99 0.9875 0.9835
