Fundamental overview:

USD/CHF is expected to consolidate in a lower range after hitting almost a monthly high of 0.9545 on Wednesday. It is undermined by the franc demand on cross trades versus major currencies. But USD/CHF losses are tempered by the positive dollar sentiment, the negative Swiss interest rates, and the threat of the Swiss National Bank to carry out CHF-selling intervention.

Technical comment:

The daily chart is mixed as the MACD is bullish, five-day moving average is above 15-day moving average and is advancing. Stochastics is turning bearish at overbought levels, bearish dark-cloud-cover candlestick pattern was completed on Wednesday.

Trading recommendations:

The pair is trading below its pivot point. It is likely to trade in a lower range as long as it remains below the pivot point. Short positions are recommended with the first target at 0.94. A break of that target will move the pair further downwards to 0.9650. The pivot point stands at 0.9545. In case the price moves in the opposite direction and bounces back from the support level, it will move above its pivot point. It is likely to move further to the upside. According to that scenario, long positions are recommended with the first target at 0.96 and the second target at 0.9650.

Resistance levels: 0.96 0.9650 0.97

Support levels: 0.94 0.9335 0.93