USD/CHF is expected to continue its upside movement. The pair is trading above its rising 20-period and 50-period moving averages, which play support roles and maintain the upside bias. The relative strength index is above its neutrality level at 50 and lacks downward momentum. Additionally, 1.0000 is playing a key support role, which should limit the downside potential.
The U.S. dollar rebounded against most major currencies except the Japanese yen as the currency continued to be buoyed by Federal Reserve Chairwoman Janet Yellen's hawkish tones on interest rates and upbeat U.S. economic data.
As long as this key level is not broken, look for a further upside toward 1.0075 and even 1.0100 in extension.
Resistance levels: 1.0075, 1.0100, and 1.0135
Support levels: 0.9955, 0.9930, and 0.9900
