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   “¢   The pair built on last week’s strong upsurge and regained traction from a support marked by 50% Fibonacci retracement level of the 1.0068-0.9542 downfall.

   “¢   The positive momentum, despite slightly overbought conditions on the 4-hourly chart, lifted the pair to over one-month tops, around mid-0.9800s in the last hour.

   “¢   Technical indicators on the daily chart are still far from moving into overbought territory and support prospects for an extension of the bullish trajectory.

   “¢   The up-move could get extended towards an important confluence hurdle, comprising of 61.8% Fibonacci retracement level and 100-day SMA.

USD/CHF daily chart

Spot Rate: 0.9830
Daily Low: 0.9798
Daily High: 0.9847
Trend: Bullish

Resistance
R1: 0.9847 (current day swing high)
R2: 0.9869 (100-day SMA)
R3: 0.9900 (round figure mark)

Support
S1: 0.9800 (50% Fibo. level)
S2: 0.9774 (50-period SMA H1)
S3: 0.9750 (horizontal zone nearing 38.2% Fibo. level)