USD/CHF Technical Analysis: USD/CHF finding resistance near parity level

• USD/CHF is trading up for the fifth day in a row and found some resistance at the 0.9989-1.0000 area and at a daily bearish trendline.  
• USD/CHF bulls will need to breakout above the 0.9989-1.0000 area if they don’t want bears to take control of the market.  
• Bears objective is to drive USD/CHF below 0.9920 swing low in order to create a rotation down towards 0.9867 July 31 low. On the flip side, if bulls manage to break above the parity level, the next targets become  1.0043-1.0069 area and  1.0170 March 7, 2017 high.

USD/CHF 15-minute chart

USD/CHF daily chart

Spot rate:                  0.9966
Relative change:       0.27%      
High:                         0.9986
Low:                          0.9934

Trend:                       Bullish / Bearish below 0.9920

Resistance 1:           0.9970 July 27 high
Resistance 2:           0.9989-1.0000 area June 15 high and parity
Resistance 3:           1.0043-1.0069 area, July 19 high and current 2018 high
Resistance 4:           1.0170 March 7, 2017 high
Resistance 5:           1.0343 December 15, 2016

Support 1:                0.9950-0.9960 area, figure and supply level
Support 2:                0.9920 August 3 low
Support 3:                0.9900 figure
Support 4:                0.9867 July 31 low
Support 5:                0.9856 June 25 low
Support 6:                0.9788 June 7 swing low