USD/CHF Technical Analysis: Hovering below the parity level

• USD/CHF is struggling to find a clear direction on Wednesday as the pair is trading between 0.9940 and 0.9970 resistance.
• USD/CHF bulls objective is to reclaim the daily highs in order to reach the parity level and beyond while bears want to breakout below the 0.9920/25 area in order to create bearish momentum in the market. 
• The overall bullish momentum is slightly slowing down as Wednesday attempt to breakout above parity didn’t surpass Monday’s attempt. 

USD/CHF 15-minute chart

USD/CHF daily chart

Spot rate:                  0.9944
Relative change:       -0.13%     
High:                         0.9972
Low:                          0.9937

Trend:                       Bullish / Bearish below 0.9920

Resistance 1:           0.9950 figure
Resistance 2:           0.9960-0.9970 area, supply level and July 27 high
Resistance 3:           0.9989-1.0000 area, June 15 high and parity
Resistance 4:           1.0043-1.0069 area, July 19 high and current 2018 high
Resistance 5:           1.0170 March 7, 2017 high
Resistance 6:           1.0343 December 15, 2016

Support 1                 0.9920/25 area, August 3 low and daily 50 simple moving average
Support 2:                0.9900 figure
Support 3:                0.9867 July 31 low
Support 4:                0.9856 June 25 low
Support 5:                0.9788 June 7 swing low