• USD/CHF holds lower ground while extending Thursday’s pullback from highest since July 2020.
• MACD swings in favor of bulls, 200-HMA adds to the downside filters.

USD/CHF retreats to 0.9413, down 0.07% intraday, during early Good Friday’s sluggish markets. In doing so, the pair sellers attack an ascending support line from March 25.

However, the receding bearish bias of the MACD and 200-HMA seems ready to challenge the USD/CHF bears.

Hence, a downside break of 0.9410 support, which becomes imminent, needs validation from the 200-HMA level of 0.9387 before recalling the 0.9300 threshold on the chart.

On the flip side, multiple hurdles between 0.9425 and 0.9435 can test the short-term USD/CHF buyers ahead of directing them to the nine-month peak surrounding 0.9530.

Overall, USD/CHF remains firm but intermediate pullback can’t be ruled out.

USD/CHF HOURLY CHART