FX.co ★ Technical analysis of USD/CHF for October 28, 2016

USD/CHF is expected to trade with bearish bias as the key resistance at 0.9960. The pair is trading above its 20-period and 50-period moving averages, while the relative strength index is above its neutrality level at 50. Nevertheless, 0.9960 represents a significant key resistance level, which should limit the upside potential. Even though a continuation of technical rebound cannot be ruled out, its extent should be limited.

As long as 0.9960 holds on the upside, look for a further drop toward 0.9900 and 0.9870 in extension.

Resistance levels: 0.9900, 1.0000, 1.0075

Support levels: 0.9900, 0.9870, 0.9850