USD/CHF is expected to trade in a lower range as the key resistance is seen at 1.0050. The pair is still trading below the key resistance at 1.0100, which should limit the upside potential. Even though a continuation of a technical bounce cannot be ruled out, its extent is likely to be limited.
The speech given by Federal Reserve Chairwoman Janet Yellen provided no new information and caused muted reaction from the greenback.
To conclude, as long as 1.0100 is not surpassed, expect a return to 1.0050 and even to 1.0030 in extension.
Resistance levels: 1.0110, 1.0130, and 1.0165
Support levels: 1.0050, 1.0030, and 1.000
