USD/CHF Technical Analysis: Swissy near 0.9920 awaiting FOMC statement

• USD/CHF is currently in wait-and-see mode before the release of the FOMC statement at 18:00 GMT.  
• USD/CHF has corrected almost 61.8% of the Monday’s drop to 0.9873. Although USD/CHF has bounced about 55 pips from the weekly low, the market would likely need a breakout above 0.9970 July 27 high (Monday) in order to re-establish a clear bullish bias.  
• Supports to the downside are likely located near the 0.9867 weekly low and 0.9856 June 25 low.  

USD/CHF 15-minute chart

Spot rate:                  0.9922
Relative change:       0.19%      
High:                         0.9935
Low:                          0.9899

Trend:                       Neutral to bearish  

Resistance 1:           0.9920-0.9930 zone, demand level and congestion zone
Resistance 2:           0.9950 area, figure  
Resistance 3:           0.9970 July 27 high
Resistance 4:           0.9989-1.0000 area June 15 high and parity
Resistance 5:           1.0036 weekly high
Resistance 6:           1.0069 current 2018 high
Resistance 7:           1.0170 March 7, 2017 high
Resistance 8:           1.0343 December 15, 2016

Support 1:                0.9900 figure
Support 2:                0.9867 July 31 low
Support 3:                0.9856 June 25 low
Support 4:                0.9788 June 7 swing low