FX.co ★ Technical analysis of USD/CHF for July 21, 2016

USD/CHF is expected to trade in a higher range as the bias remains bullish. The pair stands firmly above its horizontal support at 0.9810 as a support base has formed at this level, which should limit downside attempts. Even though a continuation of the consolidation cannot be ruled out, its extent should be limited. As long as 0.9810 is not broken, further upside is expected with the horizontal resistance at 0.9900. A break above this level would open the way to further advance toward the next resistance at 0.9920. Alternatively, only a break below 0.9810 would look for further downside with 0.9780 and 0.9760 as targets.

Resistance levels: 0.9900, 0.9920, 0.9975

Support levels: 0.9780, 0.9760, 0.9735