“¢ The pair struggled to build on overnight goodish rebound from near four-week lows and faced rejection at 100-period SMA on the 4-hourly chart.
“¢ Bulls, however, managed to hold the pair above the 0.9900 handle following the release of better-than-expected ADP report on the US private sector employment.
“¢ Meanwhile, formation a falling wedge chart pattern on the 4-hourly chart (converging trend-lines) support prospects for additional near-term up-move.
USD/CHF 4-hourly chart
Spot rate: 0.9914
Daily Low: 0.9897
Daily High: 0.9934
Trend: Medium-term bullish
Resistance
R1: 0.9934 (current day swing high)
R2: 0.9945 (falling wedge hurdle)
R3: 0.9958 (R3 daily pivot-point)
Support
S1: 0.9897 (50-period SMA H1)
S2: 0.9877 (S2 daily pivot-point)
S3: 0.9824 (100-day SMA)
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