Swiss franc breaks the major support level at 0.9784, likely to fall further

• Pair is currently trading around 0.9721 levels.
   
• It made intraday high at 0.9745 levels and low around 0.9709 levels.
   
• Intraday bias in USD/CHF remains on the downside at this point.
   
• Above 1.0078 major resistance levels will turn bias back to the upside.
   
• Current decline should now target 0.9475 key support levels next.
   
• Initial resistance levels are seen at 0.9835, 0.9943 and 1.0068 levels.
   
• Major support levels are seen around 0.9656, 0.9585 and 0.9475 levels.

We prefer to take short position in USD/CHF around 0.9750 levels, stop loss at 0.9875 and target at 0.9611 levels.