USD/CHF is expected to trade with bearish bias as the key resistance lies at 0.9960. The pair is trading above its 20-period and 50-period moving averages, while the relative strength index is above its neutrality level at 50. Nevertheless, 1.0280 represents a significant key resistance level, which should limit the upside potential. Even though a continuation of technical rebound cannot be ruled out, its extent should be limited.
As long as 1.0280 holds on the upside, look for a further drop toward 1.0235 and 1.0210 in extension.
Resistance levels: 1.03, 1.0320, 1.0375
Support levels: 1.0235, 1.0210, 1.0170
