USD/CHF technical analysis: Failure to cross immediate resistance signals return of 1.0000

• Short-term descending trend-line portrays downside momentum.
• 1.0040 can flash on sellers’ radar ahead of April lows.

With a downward sloping trend-line since May 10 portraying the USD/CHF pair’s weakness, chances of witnessing parity level back on the chart are much brighter as the quote drops to 1.0060 ahead of Europe open on Wednesday.

An ascending support-line since stretched since Friday can offer immediate support near 1.0040 ahead of highlighting 1.0010 horizontal area and the 1.0000 support for sellers.

It should, however, be noted that early-April low surrounding 0.9975 might confine further downside.

If at all prices rally past-1.0100, 1.0125 and 1.0160 seem to be the first to lure buyers.

Also, the pair’s sustained rise above 1.0160 enables bulls to target April tops near 1.0240.

USD/CHF 4-Hour chart

Trend: Bearish