USD/CHF is bouncing back following a recent sideways trading phase along the 0.9360 range. The pair currently trades between hourly support and resistance at 0.9296 (05/02/2018 low) and 0.9520 (24/01/2018 high). The pair approaches the 0.95 range. The technical structure suggests short-term rise.
In the long-term, the pair is still trading in range since 2011 despite some turmoil when the SNB unpegged the CHF. Key support lies at 0.9072 (07/05/2015 low) while resistance at 1.0344 (15/12/2016 high) is distanced. The technical structure favours a long term bullish bias since the unpeg in January 2015.
