The first resistance for the USD/CHF is at 1.0150 (Fib. 78.6% - Jan. – Feb. Fall) ahead of 1.0195/1.02 (Jan. 9 high/psychological level) and 1.0235 (Fib. %61.8). On the downside, the first support is aligned at 1.01 (psychological level) followed by 1.0050 (20-DMA) and finally 1.000 (psychological level/Feb. 28 low).
A follow through retracement below 100-day SMA support near 1.0060-55 region now seems to open room for continuation of the pair's corrective slide towards 1.0010 intermediate support, en-route the next important support near 0.9970-65 area. On the upside, momentum back above the 1.0100 handle seems to lift the pair towards 1.0135 resistance before aiming towards multi-month highs resistance near 1.0170 region.
Immediate support on the downside is pegged near 0.9965 level, below which the pair is likely to accelerate the slide towards the very important 200-day SMA support near the 0.9900 handle. On the upside, sustained recovery above 1.0015-20 immediate resistance seems to trigger a short-covering bounce towards 100-day SMA hurdle near 1.0060 region, above which the pair is likely to make a fresh attempt towards reclaiming the 1.0100 handle.
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