USD/CHF Price Analysis: Pair recovers from recent losses, struggles to approach 0.8900

Share:

• USD/CHF holds ground above 0.8850 on the back of recovery in the Greenback.
• MACD suggests that recent momentum is stronger; regains August’s highest level.
• 21-day EMA emerges as the key support lined up with 23.6% Fibo at 0.8799.

USD/CHF snaps the previous day’s losses, trading higher around 0.8870 during the early trading hours in the European session on Tuesday. The pair experiences upward support due to the firmer US Dollar (USD) and Swiss downbeat Gross Domestic Product (GDP) for the second quarter (Q2) of 2023.