USD/CHF technical analysis: Multiple resistances stand ready to question latest recovery

• Short-term ascending trend-line portrays the momentum strength but multiple resistances stand ready to question bulls.
• 1.0000 continues to dominate the bears’ list.

Despite latest bounce from a week-long support-line, the USD/CHF is still under pressure to cross multiple immediate resistances as it trades near 1.0080 during early Thursday.

Among the upside barriers, a downward sloping trend-line stretched since May 22 will be the first to question buyers near 1.0090, a break of which could push the quote towards 1.0100 horizontal-resistance.

In a case where prices rally past-1.0100, bulls can aim for 1.0125.

Meanwhile, 50% Fibonacci retracement near 1.0065 and the ascending support-line at 1.0055 can keep limiting adjacent declines.

If sellers dominate beneath 1.0055, 1.0030/25 and 1.0000 could regain bears’ attention.

USD/CHF hourly chart

Trend: Pullback expected