17.10.201612:59 Forex Analysis & Reviews: Technical analysis of USD/CHF for October 17, 2016

Long-term review

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USD/CHF is expected to trade in a higher range as a bias remains bullish. The pair broke above its 20-period and 50-period moving averages and is holding on the upside. The relative strength index is above its neutrality level at 50 and lacks downward momentum. Additionally, 0.9870 represents a significant key support level, which should limit the downside potential.

As long as 0.9870 is support, look for a further upside toward 0.9925. A break above this level would call for a further advance toward 0.9945.

Resistance levels: 0.9925, 0.9945, 0.9985

Support levels: 0.9840, 0.9810, 0.9790

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