11.07.201606:27 Forex Analysis & Reviews: Technical analysis of USD/CHF for July 11, 2016

Long-term review

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USD/CHF is expected to post some upside gains as the bias remains bullish. The pair has broken above the 50-period moving average and remains on the upside. At the same time, the prices are supported by a bullish trend line since July 7. Besides, the relative strength index is above its neutrality area at 50 and lacks downward momentum. In this case, as long as 0.9795 is not broken, the intraday outlook stays positive with targets at 0.9865 and 0.9895 in extension. Alternatively, below 0.9795, look for further downside with 0.9765 and 0.9735 as targets.

Resistance levels: 0.9865, 0.9895, 0.9945

Support levels: 0.9765 , 0.9735, 0.9710

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