“¢ The pair regained positive traction on Tuesday and climbed back closer to the overnight swing high, a resistance marked by 23.6% Fibo. level of the 1.0124-0.9895 recent downfall.
“¢ Sustained move beyond 100-hour SMA, for the first time in nearly two weeks, was seen as a key trigger for intraday bullish traders and support prospects for an extension of the up-move.
“¢ Meanwhile, technical indicators on the 1-hourly chart have been gaining positive traction and further add credence to the constructive outlook amid improving global risk sentiment.
“¢ A sustained move beyond the 0.9950 region will reaffirm the bullish bias, setting the stage for a test of 200-hour SMA and 38.2% Fibo. level confluence hurdle near the 0.9975-80 area.
USD/CHF 1-hourly chart
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