USD/CHF is expected to trade with a bearish bias. The pair remains on the downside, backed by its declining 50-period moving average. The relative strength index is bearish below its neutrality area at 50. In addition, the process of lower highs and lows remains intact, which should confirm a negative outlook.
The U.S. dollar was little changed after its retreat on Monday. The ICE U.S. Dollar Index managed to hold onto the 101.00 level. Traders were waiting for the highly-expected 25-basis-point interest-rate rise to be confirmed by the Federal Reserve, and watching closely if the central bank would indicate the pace of higher rates.
Hence, as long as 1.0145 is not surpassed, likely decline to 1.0080 and 1.0035 in extension.
Resistance levels: 1.0170, 1.0195, 1.0215
Support levels: 1.0080, 1.0060, 1.0035
The material has been provided by InstaForex Company - www.instaforex.com