USD/CHF is expected to trade in a lower range as the key resistance is at 0.9770. The pair remains under pressure below its key resistance at 0.9770, which maintains the strong selling pressure. In addition, a bearish cross was identified between the 20-period and 50-period moving averages (a negative signal). To conclude, as long as resistance at 0.9770 is not surpassed, the risk of the break below 0.9710 remains high. A break below this level would open the way to further weakness towards the horizontal support at 0.9685.
Resistance levels: 0.9785, 0.9805, 0.9860
Support levels: 0.9710, 0.9685, 0.9655
The material has been provided by InstaForex Company - www.instaforex.com