USD/CHF Technical Analysis: USD/CHF bulls rebounding from lows can target 0.9650 level

USD/CHF main bear trend is having a pullback up.
USD/CHF rebounded near the 0.9550 level and the bulls are likely targeting 0.9650 (August 29 low).
The RSI, MACD and Stochastics indicators are constructive to the upside but USD/CHF remains vulnerabe to the downside.

Flavio Tosti Independent Analyst

USD/CHF 4-hour chart

Spot rate: 0.9622
Relative change: 0.35%
High: 0.9626
Low: 0.9578

Main trend: Bearish
Short-term: Bullish

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

Support 1: 0.9580-0.9600 April 17 low, figure
Support 2: 0.9550 figure
Support 3: 0.9500 figure
Support 4: 0.9400 figure

Author

Flavio Tosti

Independent Analyst

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