USD/CHF Technical Analysis: Bears take a breather near 200-hour SMA ahead of US macro data

   •  The pair remained under some selling pressure for the second consecutive session and dropped to near one-week lows in the last hour, albeit found some support near the 1.0050 area.

   •  The mentioned support comprises of 200-hour SMA and also nears 38.2% Fibo. level of the 0.9926-1.0125 recent upsurge and should now act as a key pivotal point for short-term traders. 

   •  Technical indicators on hourly charts have been gaining negative traction and have also started losing positive momentum on the daily chart, suggesting further near-term downside.

   •  A sustained break below the said confluence support will reinforce the bearish bias and turn the pair vulnerable to break below 50% Fibo. support and aim towards challenging the parity mark.

USD/CHF 1-hourly chart