USD/CHF Technical Analysis: Swissy drops below parity level

• USD/CHF slipped below the parity level as the week started. It is now trading below its 50, 100 and 200-period simple moving averages.
• However, USD/CHF is finding some support from the bullish trendline (dotted line) and a clear breakout below it and the 0.9950-0.9961 area would be needed to confirm a bearish bias.
• The parity level becomes now the major resistance to the upside for bulls to overcome while bears will try to drive the market below 0.9950-0.9961 area, figure and June 21 open.  

USD/CHF 15-minute chart 

Spot rate:                  0.9968
Relative change:       -0.49%     
High:                         1.0026
Low:                          0.9962

Trend:                       Neutral

Resistance 1:           0.9989-1.0000 area June 15 high and parity
Resistance 2:           1.0026 May 11 open
Resistance 3:           1.0069 current 2018 high
Resistance 4:           1.0170 March 7, 2017 high
Resistance 5:           1.0343 December 15, 2016

Support 1:                0.9950-0.9961 figure and June 21 open
Support 2:                0.9936 daily 50-period SMA 
Support 3:                0.9920 intraday demand level
Support 4:                0.9900 figure
Support 5:                0.9856 June 25 low
Support 6:                0.9788 June 7 swing low