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- USD/CHF snaps three-day winning streak but struggles to defend bears.
- 200-HMA, two-week-long rising support line restrict immediate downside.
- Downward-sloping trend line from Monday challenges recovery moves ahead of top-tier US data.
- SNB’s Maechler teases further rate hikes, Fed’s 25 bps rate increase in July appears almost given.
USD/CHF pares intraday losses, the first in four, as it prods the 200-HMA amid early hours of Thursday’s European session. In doing so, the Swiss Franc (CHF) pair justifies hawkish comments from Swiss National Bank (SNB) governing board member, Andrea Maechler, as well as cheers the broad US Dollar retreat. That said, the major currency pair bounces off intraday low of 0.8965 to 0.8970 by the press time.
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