USD/CHF Intraday: Further upside. The pair is trading above its rising 50-period moving average, which acts as a support role and maintains the upside bias. The relative strength index is above its neutrality level at 50. Additionally, a support base has formed around 0.9900, which should limit the downside potential.
The U.S. dollar charged to its highest level in over a year, buoyed by overwhelming expectations of the Federal Reserve raising interest rates next month. The ICE U.S. Dollar Index extended its winning streak to a sixth session by bouncing 1.1% to 100.11, the first time it closed above the key psychological level of 100.00 since November 30, 2015.
As long as this key level holds on the downside, look for a further upside toward 1.0035 and even 1.0035 in extension.
Resistance levels: 1.0035, 1.0090, 1.0135
Support levels: 0.9830, 0.9765, 0.9735
The material has been provided by InstaForex Company – www.instaforex.com
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