FX.co ★ USD/CHF: Support Around 0.915.

Overview:
USD/CHF is going to trade in the range, undermined by CHF demand on soft GBP/CHF and EUR/CHF crosses. But USD/CHF losses are tempered by the recent rhetoric from SNB officials against the franc strength. Daily chart is mixed as MACD is bullish; but stochastics are neutral, inside-day-range pattern completed Wednesday. USD/CHF remains trapped within Tuesday's bearish outside day range between 0.9150 and 0.9217. Wednesday's inside day suggests the range low at 0.9150 is likely to come under fresh pressure, and a downside break would expose 0.9115 and create a measured objective at 0.9083. Only a recovery above Wednesday's high at 0.9196 would suggest a return to the 0.9217 high is on the cards.
Preference:
Buy above 0.915 with targets at 0.9215 and 0.925.
Resistance Levels:
R1 - 0.9217 (Tuesday's high)
R2 - 0.925
R2 - 0.9270 (Jan. 29 high)
Alternative scenario:
Sell below 0.915. The downside penetration of 0.915 will call for 0.911 and 0.906.
Support Levels:
S1 - 0.9062
S2 - 0.9062-0.9052 band (Feb. 7 low-Feb. 6 low)
S3 - 0.9019 (Feb. 1 10-month low)
Technical Comment:
The pair stands above its support and remains on the upside, the RSI stands above its neutral area and is turning up.