USD/CHF Price Analysis: Struggles to extend recovery above 0.9140-0.9160 supply zone

• USD/CHF is facing barricades in stretching its recovery move above the 0.9140-0.9160 supply zone.
• A hawkish commentary from SNB Chairman failed to strengthen the Swiss Franc bulls.
• The RSI (14) is struggling to scale into the bullish range of 60.00-80.00.

The USD/CHF pair has rebounded after a corrective move to near 0.9115 in the early Asian session. The Swiss franc asset is struggling to stretch an upside rally further as the US Dollar Index (DXY) has turned sideways ahead of the United States Nonfarm Payrolls (NFP) data.

Meanwhile, a hawkish commentary from Swiss National Bank (SNB) Chairman Thomas J. Jordan failed to strengthen the Swiss Franc bulls. SNB’s Jordan confirmed more interest rate hikes as inflationary pressures are stronger than the central bank can tolerate. The SNB is ready to be active in currency markets when necessary.