USD/CHF is expected to trade in a higher range as the bias remains bullish. The pair stays above its key support at 0.9890 and remains on the upside. Meanwhile ,the intraday RSI lacks downward momentum. Further upside is therefore expected with the next horizontal resistance and overlap set at 0.9990 first. A breakout above this level would call for a further advance toward 0.9985.
The pair is trading above its pivot point. It is likely to trade in a wider range as long as it remains above its pivot point. Therefore, long positions are recommended with the first target at 0.9985 and the second one at 1.0030. In the alternative scenario, short positions are recommended with the first target at 0.9840 if the price moves below its pivot points. A break of this target is likely to push the pair further downwards, and one may expect the second target at 0.9785. The pivot point is at 0.9890.
Resistance levels: 0.9985, 1.0030, 1.0060
Support levels: 0.9840, 0.9785, 0.9750