FX.co ★ Technical analysis of USD/CHF for October 20, 2016

USD/CHF is expected to trade in a higher range as the the bias remains bullish. The pair is consolidating and is trading below its 20-peiord and 50-period moving averages, which are turning down. Nevertheless, 0.9865 represents a significant key support level, which should limit the downside potential. Additionally, the relative strength index is turning up and just broke above its neutrality level at 50. Even though a continuation of consolidation cannot be ruled out, its extent should be limited.

As long as 0.9865 is not broken, look for a further upside toward 0.9915 and 0.9930 in extension.

Resistance levels: 0.9915, 0.9930, 0.9945

Support levels: 0.9850, 0.9825, 0.9790