Overview:
USD/CHF is consolidating with bullish bias after hitting nine-month high of 0.9761 on Friday. The rate is buoyed by positive USD sentiment; franc sales on buoyant EUR/CHF cross. Daily chart is positive-biased as MACD is bullish; stochastics is staying elevated at overbought; 5- and 15-day moving averages are rising.

Trading recommendations:
The pair is trading above its pivot point. It is likely to trade in higher range as far as it remains above its pivot point. As far as the price is above its pivot point, trading in higher range is most favorable and buy position is recommended above its pivot with the first target at 0.9761 and the second target at 0.9809. You should keep in view short position below the pivot with the first target at 0.9633, breach of this target will move the pair downward further, and expect the second target at 0.9576. The pivot point stands at 0.966.

Resistance levels:
0.9761 (Friday's high)
0.9809 (Aug. 10, 2012 high)
0.9898 (Aug. 2, 2012 high)
Support levels:
S1 - 0.9633 (Friday's low)
S2 - 0.9576 (Thursday's low)
S3 - 0.9517 (Tuesday's low)