USD/CHF Technical Analysis: Bears in charge en route to a test of 2018 low

• USD/CHF bear trend remains intact as the Swissy trades below the 200-day simple moving average (SMA).
• The death cross (50 SMA crossing below the 100 SMA) is another bearish clue which doesn’t bode well for bulls. The RSI and the MACD indicators are also bearishly configured all indicating a bearish bias.
• Targets to the downside are located at 0.9651 current August 29  low (2018 low) and 0.9600 figure.

USD/CHF daily chart

Spot rate:                  0.9662
Relative change:        -0.57%      
High:                         0.9724
Low:                          0.9661

Main trend:                Bearish

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 (2018 low)
Support 2:                     0.9600 figure
Support 3:                     0.9580 April 17 low