USD/CHF Technical Analysis: Greenback stalling below 0.9950 can open room to decline

• USD/CHF is evolving in a bull trend as the market is above the 100 and 200-period simple moving averages (SMA). 
• USD/CHF is coiling around the 50-period simple moving average and the market is currently printing a lower high suggesting that the bull run might be about to enter a bearish pullback. 
• In the absence of a sustained breakout above 0.9950, USD/CHF is poised to trade sideways to down towards 0.9891 (October 4 low), 0.9868 (July 31 low) and 0.9807 (August 22 low ).

USD/CHF 4-hour chart

Spot rate:                       0.9917
Relative change:            0.21%     
High:                              0.9931
Low:                               0.9881

Main trend:                    Bullish

Short-term trend:           Bearish pullback below 0.9950

Resistance 1:                0.9950 figure
Resistance 2:                1.0000 parity level
Resistance 3:                1.0068 July 13 high

Support 1:                     0.9891 October 4 low
Support 2:                     0.9868 July 31 low
Support 3:                     0.9820 August 25 low
Support 4:                     0.9807 August 22 low 
Support 5:                     0.9788 June 7 swing low (key level)
Support 6:                     0.9768 September 4 swing high