USD/CHF Technical Analysis: Greenback dropping below 0.9920 level against CHF

USD/CHF failed to breakout above the parity level on Thursday and USD/CHF got sold in the Asian session trading now below 0.9924 June 26 high.
USD/CHF is trading below its main simple moving averages and there is no sign that the correction has ended yet.
The next scaling points to the downside are seen near the 0.9900 figure and 0.9870 congestion zone.

Flavio Tosti Independent Analyst

USD/CHF 15-minute chart

Spot rate: 0.9917
Relative change: -0.59%
High: 0.9982
Low: 0.9913

Trend: Bearish correction

Resistance 1: 0.9924 June 26 high
Resistance 2: 0.9961 June 21 open
Resistance 3: 0.9989-1.0000 area June 15 high and parity
Resistance 4: 1.0026 May 11 open
Resistance 5: 1.0056 current 2018 high

Support 1: 0.9900 figure
Support 2: 0.9870 congestion zone
Support 3: 0.9855 June 25 low

Author

Flavio Tosti

Independent Analyst

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