USD/CHF Price Analysis: RSI divergence trigger pullback from six-month high

• USD/CHF snaps four-day uptrend to ease from multi-day top.
• Three-month-old resistance line, RSI conditions hint at further pullback.
• Rising wedge support, 50-day EMA be the key levels to watch.

USD/CHF holds lower ground near 0.9335, down 0.08% intraday during pre-European session trading on Thursday.

In doing so, the major currency pair steps back from the highest levels since April, hit the previous day, as the key resistance line joins RSI divergence to challenge the bulls.

That said, the pair sellers await a clear downside break of the early month tops around 0.9330 to extend the controls towards targeting the 0.9300 threshold and July’s high near 0.9275.

Though, a convergence of 50-day EMA and support line of a three-month-old rising wedge bearish pattern, close to 0.9200, will be a tough nut to crack for the USD/CHF bears.

Meanwhile, fresh upside may attempt another break of the stated wedge’s resistance line, at 0.9345 by the press time.

Following that, the early March’s swing high around 0.9375 and the 0.9400 round figure may entertain USD/CHF buyers ahead of directing them to the yearly peak of 0.9472.

To sum, USD/CHF is likely to extend the pullback from the key resistance line but bears have miles to go before retaking the controls.

USD/CHF: Daily chart

Trend: Pullback expected