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  • 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.  

USD/CHF 4-hour chart.

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