USD/CHF Technical Analysis: Greenback bulls run into resistance at 0.9700 figure

• USD/CHF bears are working at keeping the bear trend intact.  
• USD/CHF remains contained within the bear channel with bulls finding resistance at the 0.9700 resistance. Bears objective is to recapture the 2018 low at 0.9651.  
• A bull breakout above 0.9700 would invalidate the bearish bias.  

USD/CHF 4-hour chart

Spot rate:                  0.9693
Relative change:       0.03%      
High:                         0.9709
Low:                          0.9684

Main trend:                  Bearish
Short-term trend:       Bullish above 0.9700

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:                     0.9651 current August 29 low
Support 2:                     0.9600 figure
Support 3:                     0.9580 April 17 low