USD/CHF Technical Analysis: 0.9700 Mission Accomplished - 0.9650 next target to the downside

• USD/CHF is resuming its bear trend after the market found resistance near 0.9768 September 4 swing high forming a double top pattern. The 0.9700 support has been reached and the market is consolidating the recent losses. 
• USD/CHF bears next objective is to break below 0.9700 and the 50-period simple moving average in order to target 0.9650 August 29 low. The RSI, MACD and Stochastics are turning south indicating more losses ahead. 
• A bull breakout above 0.9768 would invalidate the bearish bias.  

USD/CHF 4-hour chart 

Spot rate:                       0.9712
Relative change:           -0.10%     
High:                              0.9751
Low:                               0.9700

Main trend:                    Bearish below 0.9768 

Resistance 1:                0.9745-47, August 28 low, 200-day simple moving average
Resistance 2:                0.9768 September 4 swing high
Resistance 3:                0.9788 June 7 swing low (key level)
Resistance 4:                0.9807 August 22 low 
Resistance 5:                0.9820 August 25 low

Support 1:                     0.9700 figure
Support 2:                     0.9650 August 29 low 
Support 3:                     0.9600 figure
Support 4:                     0.9580 April 17 low