How I would do it is to use two digital IO pins on the processor to generate the reference square wave. Put the sensor plus a series precision resistor between them and just pull one IO pin high as the other is pulled low and then swap them. That presumes that IO pins can both source and sink IO current. Then take the junction between the two to an Analogue in pin. You get two measurements each cycle. Use a lookup table of values and interpolate between them. If you wanted more precision - add more series resistors of different values covering the range of humidity that you want to sense, going to different IO pins. So you can choose the IO pin pair that brings the centre point between sensor and resistor closest to the mid-voltage point. It's effectively a balanced half bridge arrangement - using the precision of the resistors to determine overall measurement precision. OK it ties up several IO pins - but microcontrollers are so cheap, I'd probably just dedicate one to this sensor and that's all that it would do.