Overview:

USD/CHF is expected to consolidate with bullish bias after hitting one-month high on 0.8873 on Friday. It is underpinned by the broadly stronger dollar undertone and contagion from weak EUR on CHF. Daily chart is positive-biased as MACD and stochastics is bullish.

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 0.89 and the second target at 0.8930. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 0.8830. A breach of this target will push the pair further downwards and one may expect the second target at 0.8800. The pivot point is at 0.8850.

Resistance levels:
0.89
0.8930
0.8960

Support levels:
0.8830
0.88
0.8775