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22.02.201713:18 Forex Analysis & Reviews: Technical analysis of USD/CHF for February 22, 2017

Long-term review

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USD/CHF is expected to trade with bullish bias and prevail its upside movement. The pair is trading above its rising 50-period moving average, which plays support role and maintains the upside bias. The relative strength index stands firmly above its neutrality level at 50 and lacks downward momentum.

The U.S. dollar was boosted by hawkish comments from two Federal Reserve officials, Cleveland Fed President Loretta Mester and Philadelphia Fed President Patrick Harker, which pointed to a possible interest rate increase in March.

As long as 1.0070 is support, look for a further upside toward 1.0175 and even 1.0195 in extension.

Resistance levels: 1.0075, 1.0100, and 1.0135

Support levels: 1.0045, 1.0015, and 0.9975

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