“¢ The pair seemed struggling to capitalize/build on the recent positive momentum further beyond the parity mark, but has already found acceptance above 38.2% Fibo. level of the 1.0124-0.9895 recent downfall.
“¢ Moreover, the fact that the pair is holding comfortably above intraday moving averages – 50, 100 & 200-hour SMAs, and the occurrence of a golden cross on the 1-hourly chart support prospects for further gains.
“¢ Hence, any meaningful dips below an intraday ascending trend-line support, towards 0.9970 horizontal zone – also coinciding with 50-hour SMA, might still be looked upon as a buying opportunity.
“¢ Meanwhile, a sustained move beyond the parity mark is likely to accelerate the up-move towards the 1.0020 supply zone before the pair eventually aims to test the next major hurdle near the 1.0050 region.
USD/CHF 1-hourly chart
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