USD/CHF once again fails to conquer 1.0200 mark and retreats

The USD/CHF pair once again faced rejection just below 1.0200 handle and has now drifted in to negative territory to currently trade at a fresh session low around 1.0150 region.

After its recent up-surge, following Donald Trump's surprise victory in the US presidential election, the overall US Dollar Index seems to have entered a near-term consolidation phase and has failed to provide fresh impetus to assist the pair to move past 1.0200 mark for the second consecutive session.

Meanwhile, minutes from the Federal Reserve's latest monetary policy meeting (released on Wednesday) reaffirmed market expectations that the central bank would certainly raise interest rates at its meeting in December and has also fueled speculation of faster monetary tightening during 2017, which might continue to underpin the greenback and limit and sharp downslide for the major.

Looking ahead, today's US economic calendar, featuring the release of trade balance, prelim wholesale inventories and Markit flash services PMI, would be looked upon for some impetus during NA session. 

Technical levels to watch

A follow through selling pressure below 1.0145 (yesterday's low) is likely to extend the pull-back further towards 1.0120 support area below which a fresh leg of corrective slide could seems to drag the pair towards 1.0050 support area. Meanwhile on the upside, 1.0185-90 area now seems to have emerged as immediate strong resistance, which if cleared decisively should now lift the pair immediately towards 1.0230 intermediate resistance, en-route yearly high resistance near 1.0255 region.