USD/CHF is expected to further advance. The pair is supported by a bullish trend line since Feb. 9, which confirms a positive view. The upward momentum is further reinforced by its rising 50-period moving average, which plays a support role and maintains the upside bias. In addition, the relative strength index stands firmly above its neutrality level at 50.
Additionally, a support base has formed around 1.000, which should limit the downside potential. Above 1.000, a further upside to 1.0070 and even 1.0095 is likely.
Resistance levels: 1.0070, 1.0095, and 1.0210
Support levels: 0.9985, 0.9965, and 0.9930
The material has been provided by InstaForex Company - www.instaforex.com