USD/CHF: With USD/CHF halting its decline to close higher on Tuesday and following through higher on Wednesday, further strength is expected in the days ahead. However, it will have to break and hold above the 0.9126 level, its Jan 2014 high to totally reverser its three-day correction and then resume its short term uptrend.
Further out, resistance resides at the 0.9200 level, its psycho where a violation will aim at the 0.9249 level, its Nov 07’2013 high and then the 0.9300 level. Its daily RSI is bullish and pointing higher suggesting further strength.
On the other hand, support lies at the 0.9022 level, its Jan 15’2014 low where a break will target its psycho level at the 0.9000 level. Below here if seen will open the door for more downside towards the 0.8950 level and the 0.8900 level.
All in all, the pair remains biased to the upside in the short term.
Guest post by FX Tech Strategy
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