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USD/CHF Technical Analysis: Slightly overbought conditions warrant some caution near ascending trend-channel resistance

   •  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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