USD/CHF is expected to trade with bullish bias above 1.0260. The pair is in a consolidation mode around its 20-period and 50-period moving averages. Meanwhile, the relative strength index is bearish below 50 and lacks upward momentum. Nevertheless, 1.0260 is playing a key support role which should limit the downside potential. Even though a continuation of consolidation cannot be ruled out, its extent should be limited. On the economic data front, there were no major news to report in the US.
As long as 1.0260 is not broken down, further bounce is preferred with 1.0300 and 1.0320 as targets.
Resistance levels: 1.0300, 1.0320, 1.0345
Support levels: 1.0235, 1.0210, 1.0180
The material has been provided by InstaForex Company - www.instaforex.comFrom www.instaforex.com http://ift.tt/2hTNKlT
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