USD/CHF is expected to rebound. The pair broke below its 20-period moving average but is still trading above the 50-period one. The relative strength index is around its neutrality level at 50 and lacks downward momentum. Additionally, 1.0100 is playing a key support role, which should limit the downside potential.The U.S. dollar got deeper into its consolidation phase. The ICE U.S. Dollar Index sank to a session-low of 100.64, the lowest intraday level since November 17, before settling at 101.18, down 0.3% on day.
As long as this key level is not broken, look for a technical rebound toward 1.0190. A break above this level would call for a further upside toward 1.0220.
Resistance levels: 1.0190, 1.0220, 1.0250
Support levels: 1.0070, 1.0040, 1.0010
The material has been provided by InstaForex Company - www.instaforex.com