USD/CHF is expected to trade with a bullish outlook. The pair posted a rebound and broke above its 20-period and 50-period moving averages. The relative strength index is supported by a bullish trend line since 24 July and shows upside momentum.
To sum up, as long as 0.9440 holds on the downside, expect a continuation of rebound to 0.9520 and even to 0.9540 in extension.
Chart Explanation: The black line shows the pivot point; the present price above pivot point indicates the bullish position and below pivot points indicates the short position. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades.
Strategy: BUY, Stop Loss: 0.9440, Take Profit: 0.9520
Resistance levels: 0.9520, 0.9540, and 0.9565
Support levels: 0.940, 0.9375, and 0.9335
