USD/CHF Technical Analysis: Greenback resilient against Swiss Franc as the USD bulls are back above 0.9900 figure for now

USD/CHF is in a bull trend as the market is trading above the 50 and 100-period simple moving averages (SMA).
USD/CHF has rebounded from 0.9868 support as bulls seem unwilling to let go of the bull trend. However, the MACD is in negative territories and is signaling that the pullback down might not be over just yet.
In the absence of a significant breakout above 0.9950, USD/CHF is set to trade sideways to down towards 0.9891 (October 4 low), 0.9868 (July 31 low) and 0.9807 (August 22 low ).

Flavio Tosti Independent Analyst

USD/CHF 4-hour chart

Spot rate: 0.9913
Relative change: 0.12%
High: 0.9922
Low: 0.9856

Main trend: Bullish

Short-term trend: Bearish pullback below 0.9950

Resistance 1: 0.9950 figure
Resistance 2: 1.0000 parity level
Resistance 3: 1.0068 July 13 high

Support 1: 0.9891 October 4 low
Support 2: 0.9868 July 31 low
Support 3: 0.9820 August 25 low
Support 4: 0.9807 August 22 low
Support 5: 0.9788 June 7 swing low (key level)
Support 6: 0.9768 September 4 swing high

Author

Flavio Tosti

Independent Analyst

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