USD/CHF Technical Analysis: Swissy trapped in ranges

• USD/CHF bulls have been lifting the market for two consecutive days as they are creating a pullback in the main bear trend. 
• USD/CHF rose to the 200-day simple moving average where it is finding resistance. In the near term more sideways to down price action is expected as the market is in a range between 0.9768 (September 4 high) and 0.9640 (2018 low). 
• A bull breakout above 0.9768 would invalidate the bearish bias. 

USD/CHF daily chart

Spot rate:                       0.9736
Relative change:            0.46%     
High:                              0.9749
Low:                               0.9685

Main trend:                    Bearish

Resistance 1:                0.9745-47, August 28 low, 200-day simple moving average
Resistance 2:                0.9788 June 7 swing low (key level)
Resistance 3:                0.9807 August 22 low 
Resistance 4:                0.9820 August 25 low

Support 1:                     0.9700 figure
Support 2:                     0.9651 August 29 low 
Support 3:                     0.9600 figure
Support 4:                     0.9580 April 17 low