USD/CHF Technical Analysis: Bulls attempting a double bottom looking at 0.9700 figure and beyond

• USD/CHF has found support at the 2018 low as the market is pulling back up in the main bear trend.  
• USD/CHF bulls are trying to create a double bottom, however, the main momentum remains bearish as the market is trading below its main simple moving averages and the bearish trendline.
• A bull breakout above the 0.9700 figure and the 50-period simple moving average would invalidate the bearish bias.  

USD/CHF 4-hour chart

Spot rate:                  0.9684
Relative change:        0.33%      
High:                         0.9690
Low:                          0.9640

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