USD/CHF Consolidates Around 50-Day SMA Amid US Dollar Weakness

The USD/CHF pair has been consolidating around its 50-day Simple Moving Average (SMA), with neutral momentum indicated by a Relative Strength Index (RSI) near 51 and a marginally positive Moving Average Convergence Divergence (MACD).

This comes as the US Dollar stays under pressure due to broad Japanese Yen strength, which has fallen to a six-and-a-half-month low around 154.40.

The Swiss Franc struggles to fully benefit from this weakness, however, as its role as a carry-trade funding currency limits demand and the Swiss National Bank's readiness to intervene in the foreign exchange market also keeps the Franc in check.