USD/CHF Technical Analysis: Bears reaching key levels – 0.9750 next main target

• USD/CHF is in a trading range since early May.  
• USD/CHF is currently trading below its main simple moving average and breaking below 0.9807 (August 22 low). Bears are now less than 20 pips away from 0.9788 (June 7 swing low). A bear breakout below this key level would open the gates to 0.9750, the 200-day simple moving average.
   

USD/CHF 15-minute chart

Spot rate:                  0.9802
Relative change:        -0.34%      
High:                         0.9847
Low:                          0.9798

Main trend:               Neutral

Short-term   trend:     Bearish

Resistance 1:           0.9820 August 25 low
Resistance 2:           0.9835 August 23 low
Resistance 2:           0.9856 June 25 low
Resistance 3:           0.9867 July 31 swing low
Resistance 4:           0.9900 August 14 low
Resistance 5:           0.9950 figure

Support 1:                0.9807 August 22 low  
Support 2:                0.9788 June 7 swing low (key level)
Support 3:                0.9750, 200-day simple moving average