USD/CHF is expected to trade with a bullish bias. The pair remains bullish above its horizontal support at 1.0150, and is likely to post a new rebound. The relative strength index is turning up, and also broke above its neutrality area at 50. Regarding economic data, the University of Michigan sentiment index (preliminary reading) improved to 98.0 in December (vs. 94.5 expected), the highest level since January 2015, from 93.8 in November.
Hence, as long as the key support at 1.0150 remains intact, look for a further advance towards 1.0215. A break above this level would open the path to 1.0240.
Resistance levels: 1.0215, 1.0240, 1.0285
Support levels: 1.0110, 1.0080, 1.0060
The material has been provided by InstaForex Company - www.instaforex.com