USD/CHF is expected to trade with a bullish bias above 1.0265. The pair is well supported by its ascending 50-period moving average. The relative strength index stays above its neutrality level at 50. The level at 1.0265 (December 15 low) is playing a key support role, which should limit the downside room.
U.S. government bonds continued to see selling pressure. The benchmark 2-year Treasury yield settled at 1.261%, its highest close since August 2. The U.S. dollar carried on with its bullish run as the Federal Reserve projected more interest rate increases for 2017. The ICE U.S. Dollar Index surged to a day-high of 103.56, its highest intraday level since December 2002, and finally settled 1.3% on day at 103.02, its highest close since December 24, 2002.009, up from 1.239% Wednesday, and the benchmark 10-year Treasury yield at 2.580%, its highest since September 2014, up from 2.523% in the prior session.
To conclude, as long as 1.0265 is not broken, look for a further upside towards 1.0315 and 1.0345 in extension.
Resistance levels: 1.0315, 1.0345, 1.0375
Support levels: 1.0250, 1.0210, 1.0170
The material has been provided by InstaForex Company - www.instaforex.comFrom www.instaforex.com http://ift.tt/2hBYIK6
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