USD/CHF is expected to trade with bullish bias above 0.9675. Despite the recent consolidations, the pair is still in an uptrend. Meanwhile, a support base at 0.9675 has formed, and the downside room should be limited by this level. Additionally, the relative strength index lacks downward momentum. U.S. government bonds pulled back as rising oil prices fueled a rally in riskier assets and dampened demand for haven debt. The benchmark 10-year Treasury yield climbed to 1.567% from 1.556% Tuesday. Gold declined 0.5% to $1,321 an ounce, while silver managed to end 0.2% higher at $19.18 an ounce after marking a day-low at $18.89.
To sum up, as long as 0.9675 is not broken, expect a new rise to 0.9730, if breakout, the next up target would be 0.9750.
Resistance levels: 0.9730, 0.9750, 0.9775
Support levels: 0.9660, 0.9635, 0.9610
The material has been provided by InstaForex Company - www.instaforex.com