- USD/CHF main bear trend remains intact as the market is trading below its 100 and 200-period simple moving averages on the 4-hour chart.
- USD/CHF reached the 0.9650 resistance and target. Bears will try to resume the bear trend as USD/CHF tested the 100-period simple moving average and reached the important resistance level at 0.9650 (August 29 low). Targets to the downside can be located near 0.9580-0.9600 zone (April 17 low, figure) and 0.9550 figure.
- A bull breakout above 0.9700 figure would invalidate the bearish bias.
Spot rate: 0.9650
Relative change: 0.1%
High: 0.9672
Low: 0.9636
Main trend: Bearish
Resistance 1: 0.9650 August 29 low
Resistance 2: 0.9700 figure
Resistance 3: 0.9745-47, August 28 low, 200-day simple moving average
Resistance 4: 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: 0.9580-0.9600 April 17 low, figure
Support 2: 0.9550 figure
Support 3: 0.9500 figure
Support 4: 0.9400 figure
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