USD/CHF is expected to further advance. The pair recorded a succession of higher tops and higher bottoms since Feb. 9 and is holding on the upside. The upward momentum is further reinforced by its rising 20-period and 50-period moving averages, which play support roles and maintain the upside bias. The relative strength stands firmly above its neutrality level at 50 and lacks downward momentum.
On Thursday, the three major US stock indexes closed at record highs as investors were cheered up by President Donald Trump's comments that a major tax plan announcement would be made in a few weeks. The US dollar got a boost from Trump's comments on tax.
As long as 0.9985 is support, a further upside towards 1.0045 and even 1.0070 in extension would be seen.
Resistance levels: 1.045, 1.0070, and 1.0200
Support levels: 0.9965, 0.9930, and 0.9885
