• USD/CHF remains mildly bid as buyers struggle to retake control after two-day absence.
• Descending trend line from Monday restricts guards immediate recovery ahead of 100, 50 HMAs.
• Firmer oscillators suggest further recovery moves, 0.9330 is the key hurdle.

USD/CHF grinds higher around the intraday top of 0.9281 as buyers attack a three-day-old resistance line during early Wednesday. In doing so, the Swiss Franc pair prints the first daily gains since last Friday.

USD/CHF pair’s latest recovery gains support from the bullish MACD signals and gradually rising RSI (14). As a result, the pair is likely to overcome the immediate hurdle near 0.9280.

However, the 100-HMA and the 50-HMA could challenge further advances around 0.9290.

Following that, the 0.9300 round figure and a downward-sloping resistance line from December 12, close to 0.9330, will be crucial to welcome USD/CHF buyers.

In that case, the quote could rush towards the mid-month peak surrounding 0.9385 ahead of directing bulls toward the 0.9400 round figure.

On the contrary, the previous day’s low near 0.9240 and the monthly bottom surrounding 0.9215 could entertain USD/CHF bears before highlighting the 0.9200 threshold.

It’s worth noting, however, that the pair’s downside past 0.9200 appears difficult as the likely oversold RSI conditions at that time join the April 2022 bottom of 0.9195 to restrict the further fall.

If the USD/CHF drops below 0.9195, the yearly low of 0.9090 will be the focus of the bears.

USD/CHF: Hourly chart

Trend: Limited recovery expected