USD/CHF Technical Analysis: heading towards bullish flag support

   •  The pair extended overnight rejection slide from 50-period SMA on the 4-hourly chart and dropped to six-week lows in the last hour.
   •  Bearish moving average cross-over reinforces the current leg of downfall since last Friday.
   •  A subsequent break below 0.9800 handle would negate bullish flag chart formation and open room for an additional near-term downfall.

USD/CHF 4-hourly chart

Spot Rate: 0.9814
Daily High: 0.9867
Daily Low: 0.9805
Trend: short-term bearish

Resistance
R1: 0.9832 (50-day SMA)
R2: 0.9867 (daily high)
R3: 0.9890 (R1 daily pivot-point)

Support
S1: 0.9792 (bullish flag support)
S2: 0.9735 (S2 weekly pivot-point)
S3: 0.9709 (200-day SMA)