USD/CHF sustaining weakness below parity mark

Extending its near-term corrective slide, the USD/CHF pair broke below parity mark and dropped to the lowest level since mid-November. 

Currently hovering around 100-day SMA near 0.9980 region, the pair traded with negative bias for the third consecutive session and is weighed down by disappointment from the US President Donald Trump's inaugural speech, which failed to shed any light on details of his promised fiscal stimulus measures. 

Adding to this, bearish sentiment surrounding equity markets extended additional support to the traditional safe-haven currencies - like the Swiss Franc, and aggravated the selling pressure around the major. 

In absence of any market moving releases from the US, the pair remains at the mercy of USD price-dynamics and broader risk sentiment. 

Technical levels to watch

A follow through selling pressure below 100-day SMA support near 0.9970 region is likely to accelerate the slide towards 0.9950-45 support area below which the pair seems vulnerable to head towards 0.9900 round figure mark. On the flip side, recovery back above parity mark might now confront resistance near 1.0035-40 region, which is followed by resistance near 1.0075 level.