USD/CHF Technical Analysis: Rotation down should extend to 0.9800 figure

• USD/CHF is in a bull trend as the market is trading above the 100 and 200-period simple moving averages (SMA). 
• However, bulls are starting to lose steam below the 0.9950 resistance as the RSI, MACD and Stochastic indicators are weakening. The pullback down is likely to continue with a first objective at 0.9807 (August 22 low) followed by 0.9788 (June 7 swing low key level).
• A bull breakout above 0.9950 on a daily closing basis would likely see the continutation of the bull trend.

USD/CHF 4-hour chart

Spot rate:                       0.9871
Relative change:           -0.45%     
High:                              0.9921
Low:                               0.9847

Main trend:                    Bullish
Short-term trend:           Bearish pullback below 0.9950

Resistance 1:                0.9891 October 4 low
Resistance 2:                0.9950 figure
Resistance 3:                1.0000 parity level
Resistance 4:                1.0068 July 13 high

Support 1:                     0.9868 July 31 low
Support 2:                     0.9820 August 25 low
Support 3:                     0.9807 August 22 low 
Support 4:                     0.9788 June 7 swing low (key level)
Support 5:                     0.9768 September 4 swing high