USD/CHF Technical Analysis: Greenback bulls buying the dip

• USD/CHF is trading in a bear channel well below its 50, 100 and 200-period simple moving average.  
• USD/CHF bulls are buying in the lower end of the channel as they are trying to create a bull reversal.  
• The short-term targets for bulls are 0.9700 figure and 0.9745 (August 28 low).  

USD/CHF 4-hour chart

Spot rate:                  0.9696
Relative change:        0.04%      
High:                         0.9706
Low:                          0.9651

Main trend:                    Bearish
Short-term trend:           Bullish above 0.9650

Resistance 1:                0.9700 figure
Resistance 2:                0.9745, August 28 low
Resistance 3:                0.9788 June 7 swing low (key level)
Resistance 4:                0.9807 August 22 low  
Resistance 5:                0.9820 August 25 low

Support 1:                     0.9707 current August 29 low
Support 2:                     0.9649 April 6 high
Support 3:                     0.9600 figure
Support 4:                     0.9580 April 17 low