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USD/CHF is expected to trade in a higher range as the bias remains bullish. The pair resumed its bullish trend, backed by the ascending 20-period moving average. A strong support base at 0.9905 was formed. It should limit any downward attempts. In addition, the relative strength index is bullish and calls for further advance. In this case, as long as 0.9905 isn't broken, look for a new upward movement to 0.9955 and 0.9990 in extension.
Trading recommendation:
The pair is trading above its pivot point. It is likely to trade in a wider range as long as it remains above its pivot point. Therefore, long positions are recommended with the first target at 0.9955 and the second one, at 0.9990. In the alternative scenario, short positions are recommended with the first target at 0.9885 if the price moves below its pivot points. A break of this target is likely to push the pair further downwards, and one may expect the second target at 0.9870. The pivot point is at 0.9905.
Resistance levels: 0.9955, 0.9990, 1.0010
Support levels: 0.9885, 0.9870, 0.9805
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