USD/CHF Stalls at Key Resistance Amid US Jobs Data Anticipation

The USD/CHF pair experienced a modest intraday dip but managed to touch a fresh daily high during the early European session on Wednesday. Despite this, it remains below the key confluence hurdle of 0.8100.

The US Dollar's negative bias persists due to hopes for a US-Iran deal and receding Federal Reserve rate-hike expectations. This is seen as a headwind for the USD/CHF pair.

Traders seem hesitant to place aggressive bearish bets on the USD, awaiting the release of the US monthly jobs data, popularly known as the Nonfarm Payrolls (NFP) report on Friday, for more cues about the Fed's policy path. This will drive the buck and provide a fresh impetus to the USD/CHF pair.

From a technical perspective, spot prices hold above the 23.6% Fibonacci level of the recent pullback from the year-to-date high. The Moving Average Convergence Divergence (MACD) has turned marginally positive around the zero line, while the Relative Strength Index (RSI) near 52 hints at modest bullish momentum.