USD/CHF slides further below 1.0200 handle

The USD/CHF pair extended its reversal move from three-week high beyond 1.0300 handle and is now heading back towards late Dec. swing lows. 

Currently trading around 1.0170-75 band, the US Dollar remained broadly on the back foot and amplified Wednesday's retreat led by the Fed minutes that signaled uncertainty over the possible impact of President-elect Donald Trump’s proposed fiscal policies on the US economy. The central bank's concerns triggered a sharp slide in the US Treasury bond yields and drove the greenback lower across the board, dragging the pair back below 1.0200 handle.

Moving ahead, investors on Thursday will remain focused on macro releases, including - Swiss monthly CPI print, ADP report and ISM non-manufacturing PMI from the US,  which would provide some impetus for short-term traders ahead of the keenly watched NFP data on Friday.

Technical levels to watch

A follow through selling pressure below session low support near 1.0150 level seems to drag the pair immediately towards 1.0125 (Dec. 30 low) below which the downward trajectory is likely to get extended towards 50-day SMA support near 1.0075 region. Meanwhile on the upside, 1.0200 round figure mark now becomes immediate hurdle, which if cleared is likely to lift the pair back towards 1.0230-35 intermediate resistance, en-route 1.0270-75 strong hurdle.