USD/CHF faces intraday rejection from an intraday high of 0.973 at the press time, while currently trades at 0.971. The pair retains support from 200-day MA while lacks support from 50-day MA and has marked a weekly low at 0.963 in the previous week. Over the past 4 days, the pair is maintaining a stable movement with almost a flat trend and is facing strong resistance around 0.974.
The pair is lacking traction and had started the week with a flattish trend only and faced an intermittent dip wherein the USD/CHF lacked 50-day MA support. In the intraday, the pair is holding a bearish divergence. The buyers are failing to have an impact and thereby holds a flat momentum.
The pair requires a breach above 0.971 to regain support from 50-day MA. USD/CHF is lacking intraday traction after the pair rejected below daily high of 0.973. The major support lies at 0.969, where the two major MAs intersect on the daily chart.
The technicals hold bearish divergence due to intraday pullback, and the signal line is crossing above the MACD line, and RSI of USD/CHF is lying at 42.10.
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