USD/CHF Technical Analysis: rebounds from bullish flag support, poised to gain further

   •  Bulls manage to defend a descending trend-channel support, forming a part of a bullish flag on daily charts.
   •  Bullish moving averages cross-over on daily charts supportive of the bullish chart pattern formation. 
   •  Move back above 50-day SMA now seems to pave the way for a continuation of the ongoing up-move.
   •  Short-term technical indicators are yet to move in positive territory and could hinder further upside.

USD/CHF daily chart

Spot Rate:  0.9849
Daily Low: 0.9792
Trend: Bullish

Resistance
R1:  0.9846 (horizontal level)
R2:  0.9902 (R2 daily pivot-point)
R3:  0.9930 (bullish flag resistance)

Support
S1:  0.9821 (daily pivot-point)
S2:  0.9800 (round figure mark)
S3:  0.9788 (six-week low set yesterday)