FX.co ★ USD/CHF: Bullish Bias Above 0.9315

Overview:
USD/CHF is trading in higher range. The rate is supported by contagion on CHF/USD from weak EUR/USD. But USD/CHF gains tempered by broadly weaker demand for safe-haven USD amid lower risk aversion and positions adjustment before weekend.
Preference:
Buy above 0.9315 with targets 0.9375 and 0.94 in extension.
Resistance Levels:
R1 - 0.9371 (Oct. 15 high)
R2 - 0.94
R3 - 0.9431 (Oct. 10 high)
Alternative scenario:
Sell below 0.9315, look for further downside with 0.9285 and 0.927 as targets.
Support Levels:
S1 - 0.9286 (Thursday's low)
S2 - 0.927
S3 - 0.9255 (Tuesday's low)
Technical Comment:
The pair remains on the upside and is challenging its resistance. Daily chart is positive-biased as MACD & stochastics are bullish; five-day moving average is staging bullish crossover against 15-day MA.