USD/CHF Buyers Fail to Break 21-Day SMA Ahead of US CPI
USD/CHF holds a modest bid but fails to overcome the 21-day SMA as traders brace for US inflation data.
USDCHF
The pair is trading with a slight positive bias on Tuesday, consolidating recent USD gains. Price action has stabilized above the 50-day Simple Moving Average following a sharp pullback from levels above 0.8200.
However, buyers are struggling to clear the 21-day SMA, which is acting as a near-term resistance. The inability to break this moving average keeps the rebound capped.
Market attention is turning to Wednesday’s US Consumer Price Index release, which could drive the next directional move in the dollar and the pair.
Source: FXStreet Forex News