USD/CHF has been consolidating after a bearish swing in May through June. Thus we can say it is bearish-neutral. But I would not be surprised if $USDCHF continues the bearish mode after consolidating. However, price is challenging the consolidation resistance. If this resistance holds, the bearish scenario would still be live.USD/CHF Daily Chart(click to enlarge)Resistance:- We can see that the USD/CHF pair was held under 0.9950 a couple of times in July. - As price tests this resistance again, the resistance is also reinforced by the 200-day simple moving average (SMA).- Furthermore, the RSI is right around 60. A bearish market is likely to keep the RSI under 60.- So far, the market appears to be respecting this resistance. - The daily candle for the 9/12 session was a bearish engulfing candle. - I think we can anticipate at least a dip to the 0.98 support pivot. Below that, USD/CHF would open up the 0.9690-0.97 lows on the year and the June/August support.- If USD/CHF does fall to 0.9690, I would not rely on this support because the prevailing trend would be bearish. - On the other hand, if USD/CHF pushes through 0.9950, We should first expect resistance at 1.00, which would be a psychological resistance. - A break above 1.00 would be convincing of a bullish reversal and a continuation of the prevailing trend in 2018.