During the mid-North American session, the USD/CHF recovered and reached a new year-to-date high of 0.9439. Robust US jobs data led to a sell-off of bonds, resulting in rising UST bond rates that supported the US dollar (USD). Currently, the USD/CHF is trading at 0.9428 and attempting to break above the February 27 daily high of 0.9429.

The USD/CHF , exchange rate movement is neutral in theory, but a break of the key 0.9400 level could lead to more gains. The 200-day Exponential Moving Average (EMA) at 0.9452 is a reference for an asset’s bullishness or bearishness and is above the current exchange rate. If the USD/CHF breaks above this level, the bias will shift to neutral-upward.

However, the neutral-upwards trend would weaken unless the USD/CHF breaks through the next resistance region at 0.9547, the November 30 high. If the USD/CHF pair breaks beyond 0.9547, it could rally to the November 21 high of 0.9598.

The oscillator readings support the bias shift, with the Relative Strength Index (RSI) heading upward and the Rate of Change (RoC) increasing. Therefore, the USD/CHF tilt is neutral to higher. However, if the USD/CHF fails to consolidate gains above 0.9400, the decline could worsen to the 100-day EMA at 0.9386 before hitting the January 24 high-turned support at 0.9360.