USD/CHF Technical Analysis: USD/CHF finds support at 0.9600 figure and rebounds

USD/CHF is having a bullish pullback in the main bear trend.
USD/CHF is rebounding after it found support at the 0.9600 figure. It is currently testing 0.9650 resistance (August 29 low). If the bulls manage to break through it the next resistance level can be located near the 50-simple moving average and the 0.9700 figure.
The main trend remains bearish so the pullback up might be limited.

Flavio Tosti Independent Analyst

USD/CHF 4-hour chart

Spot rate: 0.9650
Relative change: 0.25%
High: 0.9652
Low: 0.9599

Main trend: Bearish
Short-term trend: 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: 0.9500 figure
Support 3: 0.9400 figure

Author

Flavio Tosti

Independent Analyst

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