USD/CHF Struggles To Bounce

The US dollar softened after November’s nonfarm payrolls missed the mark.

The pair has met stiff selling pressure at 0.9270, former support that had turned into a resistance. The bullish RSI divergence suggests a slowdown in the sell-off though there is no confirmation yet for a sustainable bounce.

0.9120 is a key demand area on the daily timeframe and a bearish breakout would invalidate the November rebound. Buyers may switch sides as sentiment further deteriorates, exacerbating volatility to the downside.

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