FxWirePro: USD/CHF consolidating around 1.0191 levels, outlook is bullish

The pair has retreated towards 1.0170 levels after finding resistance at 1.1225 levels and remained at lower levels unable to regain the lost ground afterwards as investors preferred safe heaven assets on renewed concerns on global economic growth.
 

• The short term picture depicts bullish trend for this pair, as the pair is supported by rising trend line in 4 hours chart, the relative index in the 4 hour chart is slightly pointing upwards at 52, the 55, 30 and 20 MA's is indicating upward momentum. Overall the technical indicators are depicting more upside for this pair.
   
• To the upside, the strong resistance can be seen at 1.0225, a break above this level would take the pair towards next resistance level at 1.0264.
   
• To the downside immediate support can be seen 1.0150, a break below this level will take the pair to next level at 1.0080.
  
  Recommendation: Go long above 1.0150, targets 1.0220, 1.0300, SL 1.0000
  
  Support levels:1.0150, 1.0120, 1.0080
  
  Resistance levels: 1.0225, 1.0264, 1.0300