USD/CHF Stalls Recovery Amid US Yield Volatility

The USD/CHF currency pair experienced a modest gain of 0.07% on Friday, trading at 0.8010.

However, for the week as a whole, the pair finished with losses of over 1.49%, triggered by a drop in US yields on Wednesday due to the US Treasury's attempt to cap elevated yields on the 30-year bond.

The price action shows some consolidation, capped by the 50- and 100-day Simple Moving Averages (SMAs) at 0.8086 and 0.7976 respectively.

Momentum shifted downwards as seen in the Relative Strength Index (RSI), indicating that bears are in charge and caution is warranted for a bearish continuation.