USD/CHF is expected to trade with a bullish bias. The pair broke above its 20-period moving average, which is trading above the 50-period one, and is holding on the upside. The relative strength index stands firmly above its neutrality level at 50 and lacks downward momentum. Additionally, 0.9955 is playing a key support role, which should limit the downside potential.
Hence, as long as 0.9955 is not broken, look for a further upside to 1.0015 and even 1.0030 in extension.
Resistance levels: 1.0015, 1.0030, 1.0050
Support levels: 0.9930, 0.9900, 0.9875
The material has been provided by InstaForex Company – www.instaforex.com
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