Overview:

USD/CHF is expected to trade in a higher range. Financial markets in Switzerland were shut today for Good Friday holiday and on Monday for Easter. USD/CHF is supported by the positive dollar sentiment and dovish Swiss National Bank's monetary policy stance and franc sales on buoyant EUR/CHF cross. But the USD/CHF gains are tempered by the franc demand on buoyant CHF/JPY cross and positions adjustment before weekend. Daily chart is positive-biased as stochastics is rising from oversold zone, MACD is staging bullish crossover against its exponential moving average.

Trading recommendation:
The pair is trading above its pivot point. It is likely to trade in a higher range as far as it remains above its pivot point. As far as the price is above its pivot point, a long position is recommended with the first target at 0.8845 and the second target at 0.8860. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 0.8755. A breach of this target will push the pair further downwards and one may expect the second target at 0.8735. The pivot point is at 0.8775.

Resistance levels:
0.8845
0.8860
0.8885

Support levels:
0.8755
0.8735
0.8695