USD/CHF Technical Analysis: More pain is coming below 0.9867 swing low

USD/CHF bull trend has been on pause since early May.
USD/CHF bears are trying to break below 0.9867 July 31 swing low. A bear breakout would open the gates to the next key level at 0.9788, June 7 swing low.
A sustained bull breakout above 0.9920 would invalidate the bearish bias.

Flavio Tosti Independent Analyst

USD/CHF daily chart

Spot rate: 0.9871
Relative change: -0.43%
High: 0.9926
Low: 0.9866

Main trend: Bullish
Short-term trend: Bearish on a break below 0.9867

Resistance 1: 0.9899 August 14 low
Resistance 2: 0.9920 August 3 low
Resistance 3: 0.9950 figure

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

Author

Flavio Tosti

Independent Analyst

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