USD/CHF Technical Analysis: Relentless rally pauses near the key 200-DMA/ascending trend-line

   •  The post-FOMC slide stalled near 100-hour SMA, with bulls regaining control on Thursday and lifting the pair sharply higher beyond the 0.9700 handle.

   •  The up-move marked a convincing breakthrough a two-week-old descending trend-line hurdle and thus, increases prospects for additional gains.

   •  Move back above 200-day SMA adds credence to the constructive outlook, albeit overbought conditions on the 1-hourly chart warrant some consolidation. 

   •  Moreover, the bullish momentum needs to take out another ascending trend-line hurdle before traders start positioning for any further near-term up-move.
 

USD/CHF 1-hourly chart

Spot Rate: 0.9742
Daily Low: 0.9646
Trend: A possible bullish consolidation

Resistance
R1: 0.9767 (monthly high set on Sept. 4)
R2: 0.9800 (round figure mark)
R3: 0.9830 (horizontal zone)

Support
S1: 0.9700 (previous resistance break-point)
S2: 0.9670 (horizontal zone)
S3: 0.9646 (current day swing low)