USD/CHF is expected to hit further upside targets. The pair is supported by a rising trend line since June 7, which confirms a positive view. The upside momentum is further reinforced by the rising 20-period and 50-period moving averages, which act as support roles and maintain the upside bias. At the same time, the relative strength index is also supported by a bullish trend line. To sum up, as long as 0.9755 holds on the downside, look for further rise to 0.9805 and 0.9820 in extension.
Resistance levels: 0.9805, 0.9820, 0.9860
Support levels: 0.9735, 0.9710, 0.9685
The material has been provided by InstaForex Company - www.instaforex.com