Fundamental overview:
USD/CHF is expected to consolidate with bearish bias after hitting a three-week low of 0.9530 on Tuesday. It is undermined by Swissie demand on the soft EUR/CHF cross. The USD/CHF losses are tempered by the stronger USD sentiment, the negative Swiss interest rates and the threat of the Swiss National Bank to carry out CHF-selling intervention.

Technical comment:
The daily chart is negative-biased as the MACD and stochastics are bearish, 5-day moving average is below 15-day moving average and is declining.

Trading recommendations:
The pair is trading below its pivot point. It is likely to trade in a lower range as far as it remains below the pivot point. Short positions are recommended with the first target at 0.9495. A break of that target will move the pair further downwards to 0.9435. The pivot point stands at 0.9650. In case the price moves in the opposite direction and bounces back from the support level, it will move above its pivot point. It is likely to move further to the upside. According to that scenario, a long position is recommended with the first target at 0.9720 and the second target at 0.9820.

Resistance levels:
0.9720
0.9820
0.9875

Support levels:
0.9495
0.9435
0.94