Overview:
USD/CHF is expected to consolidate with bullish bias after hitting one-month high at 0.8881 on Monday. It is underpinned by the franc sales on rising EUR/CHF cross. But USD/CHF gains are tempered by the franc demand on buoyant CHF/JPY cross. Daily chart is positive-biased as five-day moving average staged bullish crossover against 15-day MA, MACD and stochastics are 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 0.8955 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:
0.8955
0.8930
0.89

Support levels:
0.8830
0.88
0.8775