Technical outlook and chart setups:
The USD/CHF has rallied up to 700 pips since a double bottom was confirmed at 0.8700 levels earlier. The structure still indicates that bulls might want to target the September 2013 resistance at 0.9450/60 levels before giving into a meaningful correction. Please also note that fibonacci extensions are also pointing at 0.9460, hence probability remains for a final push before pulling back. Immediate resistance is seen at 0.9450/60 while support is placed at 0.9250, followed by 0.9150/60, 0.9000 and lower respectively. It is recommended to initiate short positions on a bearish signal confirmation for a pullback lower, at least into the 0.9100/0.9000 levels.
Trading recommendations:
Remain flat for now, look to initiate short positions around 0.9450/60 on a bearish confirmation.
Good luck!