FxWirePro: USD/CHF rises to one-month highs, maintains bullish bias

The USD/CHF rebounded from 1.0120 levels, erasing the earlier losses, after new home sales data released from the US market printed positive figures. 

• In a short while, the Federal Reserve will release statement of its latest monetary policy, and investors will be looking for clues on a possible upcoming rate hike, something quite unlikely, at least until March. A more hawkish statement may take the pair further higher.
   
• The 4 hour chart shows that the pair has held for most of the day above the 38.2% retracement level located at 1.0120.
   
• The short term picture depicts more bullish trend for this pair, as the pair is supported by rising trend line, the relative index in the 4 hour chart is  pointing upwards at 64, 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 1.0201, a break above this level would take the pair towards next resistance level at 1.0264.
   
• To the downside immediate support can be seen 1.0120, a break below this level will take the pair to next level at 1.0052.
  
  Recommendation: Go long above 1.0100, targets 1.0220, 1.0300, SL 1.0000
  
  Support levels: 1.0120, 1.0052, 1.0000
  
  Resistance levels: 1.0201, 1.0264, 1.0115