FX.co ★ Technical analysis of USD/CHF for May 28, 2018

USD/CHF is expected to trade with a bullish outlook.The pair posted a strong rebound, and now stands firmly above its 20-period and 50-period moving averages. A strong support base has formed around 0.9905, which should limit any downward attempts. Last but not least, the relative strength index is bullish, and calls for a new bounce. To sum up, as long as 0.9905 is not broken, likely advance to 0.9960 and 0.9985 in extension.

Chart Explanation: The black line shows the pivot point. The present price above the pivot point indicates a bullish position, and the price below the pivot point indicates a short position. The red lines show the support levels, and the green line indicates the resistance levels. These levels can be used to enter and exit trades.

Strategy: BUY, stop loss at 0.9905, take profit at 0.9960.

Resistance levels: 0.9960, 0.9960, and 1.0005

Support levels: 0.9905, 0.9880, and 0.9845