USD/CHF technical outlook

• Pair surpasses the 0.99 marks and currently trading at 0.9940levels.
   
• It made intraday high at 0.9942 and low at 0.9904 levels.
   
• Intraday bias remains bearish below the 1.0073 levels.
   
• 10, 25 and 50D EMA heads down, which signals bearish trend.
   
• Upside of recovery should be limited below 0.9972 resistance levels and bring another fall.
   
• A daily close above 0.9972 levels will turn near term outlook bullish.
   
• Below 0.9660 will extend the fall to 0.9475 key support levels next.

We prefer to take short position is USD/CHF around 0.9950, stop loss 1.0073 and target 0.9662.