USD/CHF Technical Analysis: Converging trend-lines point to a short-term bullish set-up

   •  The pair struggled to build on overnight goodish rebound from near four-week lows and faced rejection at 100-period SMA on the 4-hourly chart. 

   •  Bulls, however, managed to hold the pair above the 0.9900 handle following the release of better-than-expected ADP report on the US private sector employment. 

   •  Meanwhile, formation a falling wedge chart pattern on the 4-hourly chart (converging trend-lines) support prospects for additional near-term up-move. 

USD/CHF 4-hourly chart

Spot rate: 0.9914
Daily Low: 0.9897
Daily High: 0.9934
Trend: Medium-term bullish

Resistance
R1: 0.9934 (current day swing high)
R2: 0.9945 (falling wedge hurdle)
R3: 0.9958 (R3 daily pivot-point)

Support
S1: 0.9897 (50-period SMA H1)
S2: 0.9877 (S2 daily pivot-point)
S3: 0.9824 (100-day SMA)