USD/CHF is expected to trade in higher range as bias remains bullish. The pair stands firmly above its horizontal support at 0.9685, and is holding on the upside. Meanwhile, the 50-period moving average is heading upward, and acts as a support role. Besides, the relative strength index is bullish above its neutrality area at 50. U.S. government bonds pulled back as investors regained their risk appetite at the expense of haven debt. The benchmark 10-year Treasury yield climbed to 1.605% from 1.556% Thursday.
Therefore, as long as 0.9685 holds on the downside, look for a new rise to 0.9755 at first. A break above this level would open the path to further advance toward 0.9790 as possible.
Resistance levels: 0.9755, 0.9790, 0.9825
Support levels: 0.9645, 0.9605, 0.9575
The material has been provided by InstaForex Company - www.instaforex.com