USD/CHF Technical Analysis: USD/CHF remains under pressure at monthly lows

USD/CHF main bear trend remains intact as it is trading near the monthly low.
USD/CHF is trading below its 50, 100 and 200-period simple moving averages while the RSI, MACD and Stochastics are in bearish territories.
In the absence of any major bullish action, USD/CHF is set to continue to slide down. The main targets to the downside are 0.9580-0.9600 (April 17 low, figure) and the 0.9500 figure.

Flavio Tosti Independent Analyst

USD/CHF 4-hour chart

Spot rate: 0.9614
Relative change: -0.59%
High: 0.9677
Low: 0.9590

Main trend: Bearish

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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