USD/CHF Technical Analysis: Move beyond 100-hour SMA sets the stage for additional intraday gains

   •  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