USD/CHF is expected to trade in a lower range as the bias remains bearish. The technical picture of the pair is bearish, as the pair has struck against the horizontal resistance at 1.1095. The relative strength index lacks upward momentum. Even though a continuation of the rebound cannot be ruled out, its extent should be limited.
Hence, as long as the pair stands below the resistance at 1.0195, expect a new drop to the targets at 1.0090 and 1.0060 in extension.
Resistance levels: 1.0220, 1.0250, 1.0295
Support levels: 1.0090, 1.0060, 1.0025
The material has been provided by InstaForex Company – www.instaforex.com
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