USD/CHF Technical Analysis: More pain is coming below 0.9867 swing low

• USD/CHF bull trend has been on pause since early May.  
• USD/CHF bears are trying to break below 0.9867 July 31 swing low. A bear breakout would open the gates to the next key level at 0.9788, June 7 swing low.  
• A sustained bull breakout above 0.9920 would invalidate the bearish bias.  

USD/CHF daily chart

Spot rate:                  0.9871
Relative change:      -0.43%      
High:                         0.9926
Low:                          0.9866

Main trend:                            Bullish  
Short-term trend:                  Bearish on a break below 0.9867  

Resistance 1:           0.9899 August 14 low
Resistance 2:           0.9920 August 3 low  
Resistance 3:           0.9950 figure

Support 1:                0.9867 July 31 swing low
Support 2:                0.9856 June 25 low
Support 3:                0.9788 June 7 swing low