USD/CHF Technical Analysis: USD/CHF finds some support at 0.9550 level – Remains vulnerable to the downside

• USD/CHF main bear trend remains intact.
• USD/CHF is trading below its 50, 100 and 200-period simple moving average suggesting a strong bearish bias. USD/CHF rebounded from the 0.9550 level and the market is set to consolidate the recent losses.  
• If bulls manage to break the 0.9600 resistance they can expect to reach the 0.9650 level (August 29 low). USD/CHF remain strongly bearish and any pullback up can be short-lived.  

USD/CHF 4-hour chart

Spot rate:                       0.9588
Relative change:           -0.02%      
High:                              0.9598
Low:                               0.9542

Main trend:                    Bearish

Resistance 1:                0.9580-0.9600 April 17 low, figure
Resistance 2:                0.9650 August 29 low  
Resistance 3:                0.9700 figure
Resistance 4:                0.9745-47, August 28 low, 200-day simple moving average
Resistance 5:                0.9768 September 4 swing high
Resistance 6:                0.9788 June 7 swing low (key level)
Resistance 7:                0.9807 August 22 low  
Resistance 8:                0.9820 August 25 low

Support 1:                     0.9550 figure
Support 2:                     0.9500 figure
Support 3:                     0.9400 figure