USD/CHF extends corrective slide from yesterday's near one-month high

The USD/CHF pair struggled to build on to its strength beyond 100-day SMA and has now broken on the downslide, hitting a two-day low level near 1.0065 in the past hour.

Spot extended previous session's profit-taking pull-back from nearly one month high level beyond the 1.0100 handle amid a modest greenback weakness. In fact, the key US Dollar Index moved farther below 3-week highs touched yesterday, and the 101.00 handle, resulting into the offered tone surrounding the major.

Meanwhile, heightened geopolitical tensions in the Korean peninsula and Middle East, along with uncertainty ahead of the upcoming French presidential election, further supported the Swiss Franc's safe-haven appeal and collaborated to the pair's corrective slide on Tuesday.

With the only scheduled release of JOLTS openings data, the US economic docket lacks any major market moving economic releases. However, speech by the Minneapolis Fed President Neel Kashkari might provide some short-term trading impetus later during NY session.

Technical levels to watch

Currently trading around 1.0065-60 band, a follow through retracement below 1.0050 level could accelerate the slide towards 1.0020-15 horizontal support en-route the key psychological support near the parity mark. 

On the upside, 100-day SMA near 1.0080 region now becomes immediate resistance, which if cleared decisively now seems to lift the pair beyond the 1.0100 handle, and 1.0115 intermediate resistance, towards testing its next major hurdle near 1.0130-35 zone.