USD/CHF Technical Analysis: More ranges ahead

USD/CHF main bear trend is on hold.
USD/CHF has rebounded from the 0.9600 figure and is now in consolidation mode between the 0.9700 and 0.9650 level.
The RSI, MACD and Stochastics indicators are bullish suggesting that the bullish pullback is not over yet and more consolidation in the 0.9700-09650 band is to come before the next directional move.

Flavio Tosti Independent Analyst

USD/CHF 4-hour chart

Spot rate: 0.9669
Relative change: 0.24%
High: 0.9701
Low: 0.9632

Main trend: Bearish
Short-term trend: Bullish

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

Support 1: 0.9650 August 29 low
Support 2: 0.9580-0.9600 April 17 low, figure
Support 3: 0.9500 figure
Support 4: 0.9400 figure

Author

Flavio Tosti

Independent Analyst

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