USD/CHF Technical Analysis: USD/CHF has room to go up to 0.9860 level

• USD/CHF bull trend has transitioned to neutral as the market broke below 0.9867 swing low. 
• USD/CHF didn’t reach the 0.9788 swing low and the day is set to end with a tail at the bottom of the bar suggesting that bulls were buying at the end of the day. The bull momentum can continue on Thursday. Bull target is 0.9856 June 25 low. 
• A bear breakout below 0.9807 (August 22 low) would invalidate the bullish bias.

USD/CHF daily chart

Spot rate:                  0.9883
Relative change:      -0.22%     
High:                         0.9858
Low:                          0.9807

Main trend:               Neutral

Resistance 1:           0.9856 June 25 low
Resistance 2:           0.9867 July 31 swing low
Resistance 3:           0.9899 August 14 low
Resistance 4:           0.9920 August 3 low 
Resistance 5:           0.9950 figure

Support 1:                0.9807 August 22 low 
Support 2:                0.9788 June 7 swing low
Support 3:                0.9756, 200-day simple moving average