USD/CHF is expected to trade with bullish bias. The pair stands firmly above its horizontal support at 0.9660 (Sept. 26 bottom) and is rebounding now. Additionally, the 20-period moving average is turning up, maintaining a bullish bias. Besides, the relative strength index is bullish above its neutrality area at 50, and calls for further upside. As long as support lies at 0.9660, look for a new rise to 0.9745. A break above this level would open the way to further upside toward the next resistance at 0.9775.
Hence, as long as 0.9660 holds on the downside, we remain positive and expect a new rise to 0.9745 (Sept. 23 top) at first. A break above this level will open the path to further advance towards 0.9775. Alternatively, below 0.9660, the next downside targets will be 0.9635 and 0.9605.
Resistance levels: 0.9745, 0.9770, 0.9815
Support levels: 0.9635, 0.9610, 0.9575
