“¢ The pair built on its recent positive momentum and Friday’s goodish bounce from confluence support – comprising of 200-hour SMA and the lower end of a near two-week-old ascending trend-channel formation.
“¢ The intraday positive momentum to over one-week tops has now lifted the pair to the trend-channel resistance and warrant some caution for bullish traders amid slightly overbought conditions on the 1-hourly chart.
“¢ However, bullish oscillators on 4-hourly/daily charts support prospects for a further near-term appreciating move and should attract some dip-buying interest, which might help limit any meaningful corrective slide.
“¢ Meanwhile, a sustained break through the trend-channel resistance has the potential to lift the pair further beyond the 1.0100 round figure mark towards testing YTD tops, around the 1.0120 region set in March.
USD/CHF 1-hourly chart
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