FX.co ★ Technical analysis of USD/CHF for July 06, 2016

USD/CHF is expected to trade with bullish bias. The pair accelerated on the upside after it has broken above the descending trend line since June 30. Meanwhile, the rising 20-period and 50-period moving averages are playing support roles and maintain the upside bias. Besides, the relative strength index is bullish above its neutrality area at 50 and calls for further upside. Hence, as long as 0.9750 holds on the downside,I am positive and expect a bounce to 0.9820 and 0.9835 in extension.

Resistance levels: 0.9820, 0.9835, 0.9880

Support levels: 0.9725, 0.9685, 0.9655