Overview:

USD/CHF is expected to consolidate with a bullish bias after hittinga near-six-month high at 0.9052 on Friday. It is supported by the positive dollar sentiment, dovish Swiss National Bank's monetary policy, contagion from weak EUR, and franc sales on soft CHF/JPY cross. The daily chart is positive-biased as MACD is bullish, the stochastics stays elevated in the overbought zone; five-day moving average is above 15-day MA and is advancing.

Trading recommendations:

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 long as the price is keeping above its pivot point, a long position is recommended with the first target at 0.9055 and the second target at 0.9075. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 0.9. A break of this target would push the pair further downwards and one may expect the second target at 0.8965. The pivot point is at 0.9025.

Resistance levels:
0.9055
0.9075
0.91

Support levels:
0.9
0.8965
0.8935