FX.co ★ USD/CHF: Technical Analysis

Overview:
USD/CHF is going to trade in higher range. The pair is underpinned by broadly stronger demand for safe-haven USD as risk aversion rises. The reports that BNY Mellon and State Street intended to charge clients 25 basis points on deposits held in Swiss francs also affect the markets.
Preference:
Long positions are above 0.936 with targets at 0.944 and 0.947 in extension.
Resistance Levels:
0.944 *** intraday resistance
0.9473 (Sept. 11 high)
0.9485 (Sept. 10 high)
0.9580 (Sept. 7 high).
Alternative scenario:
Below 0.936 look for further downside with 0.9318 and 0.9295 as targets.
Support Levels:
0.9318 (Tuesday's low)
0.9295 (Monday's low)
0.9270 (Friday's low)
Comment:
Daily chart is positive biased as MACD is in bullish mode, stochastics have turned to be bullish.

Ahsan Aslam
Official Analyst of InstaForex Companies Group
InstaForex Companies Group
https://instaforex.com
E-mail: ahsan.aslam@analytics.instaforex.com