USD/CHF Technical Analysis: USD/CHF can sink to 0.9580 level

USD/CHF main bear trend remains intact.
USD/CHF is trading below its 50, 100 and 200-period simple moving averages (SMA) on the 4-hour chart while the RSI and MACD indicator are pointing to more losses.
The main objective for bears is to break below 0.9650 (August 29 low) in order to reach 0.9580 April 17 low in the coming weeks.

Flavio Tosti Independent Analyst

USD/CHF 4-hour chart

Spot rate: 0.9670
Relative change: -0.42%
High: 0.9715
Low: 0.9657

Main trend: Bearish

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 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: 0.9650 August 29 low
Support 2: 0.9580 April 17 low
Support 3: 0.9500 figure

Author

Flavio Tosti

Independent Analyst

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