USD/CHF Technical Analysis: USD/CHF bears break key support level – 0.9580 next target

• USD/CHF main bear trend is intact.
• USD/CHF bears are breaking below a key support level at 0.9650 (August 29 low). USD/CHF is trading well below its 50, 100 and 200-period simple moving average while the RSI, MACD and Stochastics indicators are pointing to more losses.  
• The next bear target to the downside is seen at 0.9580 April 17 low.  

USD/CHF 4-hour chart

Spot rate:                       0.9621
Relative change:            -0.63%      
High:                              0.9681
Low:                               0.9617

Main trend:                    Bearish

Resistance 1:                0.9700 figure
Resistance 2:                0.9745-47, August 28 low, 200-day simple moving average
Resistance 3:                0.9768 September 4 swing high
Resistance 5:                0.9788 June 7 swing low (key level)
Resistance 6:                0.9807 August 22 low  
Resistance 7:                0.9820 August 25 low

Support 1:                     0.9650 August 29 low  
Support 2:                     0.9580 April 17 low
Support 3:                     0.9500 figure