USD/CHF finally made a recovery of nearly 80 pips yesterday following a small consolidation phase. The current price is at 0.9196 with immediate support levels at 0.9164 and 0.9152. The intraday resistance levels are at 0.9216 and 0.9243.
On the intraday charts, the SMA-14 is the next hurdle at 0.9212 while the SMA-50 is now indicating support at 0.9174. The mid-band is at 0.9162 with upper and lower bands at 0.9246 and 0.9078 respectively. The RSI has now above the neutral zone while the MACD remains below the middle line. So far the intraday and 4-hourly price patterns are bullish but with the nearby resistance a buy trade will be ideal only on small dips towards 0.9175 while keeping a target of 0.9220 and a stop-loss t 0.9140.
