19.10.201613:36 Forex Analysis & Reviews: Technical analysis of USD/CHF for October 19, 2016

Long-term review

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USD/CHF is expected to trade in higher range as the bias remains bullish. The pair is consolidating, having broken below its 20-period moving average, but is still trading above the 50-period one. In addition, 0.9865 represents a significant key support level, which should limit the downside potential. The relative strength index stands firmly above its neutrality level at 50 and lacks downward momentum.

As long as the key support at 0.9865 remains intact, look for a further upside toward 0.9915 and 0.9930 in extension.

As long as 0.9855 holds on the downside, look for further upside toward 0.9910 and 0.9925 in extension.

Resistance levels: 0.9915, 0.9930, 0.9945

Support levels: 0.9850, 0.9825, 0.9790

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