USD/CHF is expected to trade in higher range. The pair is supported by the rising trend line since Feb. 28, which confirms a positive outlook. The rising 20-period and 50-period moving averages suggests that the price has potential for a further upside. The relative strength index is also supported by the rising trend line since Feb. 28 and lacks downward momentum.
On the economic data front, initial jobless claims came in lighter than expected at 233k (estimated 245k) compared with 244k in the week ended February 25th. Separately, continuing claims increased to 2.07M (expected 2.06M) vs. 2.06M in the week ending on February 18th. Finally, Bloomberg Consumer Comfort rose to 49.8 from 48.0 on the week ended February 26.
To sum up, as long as 1.0100 is not broken, expect a new rise to 1.0150 and even to 1.0165 in extension.
Resistance levels: 1.0135, 1.0150, and 1.0180
Support levels: 1.0050, 1.0035, and 1.000
The material has been provided by InstaForex Company - www.instaforex.com