USD/CHF slides further below 0.9700 handle

Extending its weakness below 100-day SMA, the USD/CHF pair fell sharply below 0.9700 handle and is currently trading at 9-day low level around 0.9680-75 band. 

The offered tone around the greenback has been the key factor contributing towards the ongoing slide in the major. Adding to this, the prevalent risk-off sentiment is providing an additional boost to the traditional safe-haven currencies, including the Swiss Franc, and exerting further selling pressure. 

Today's focus would be on US macro releases that include - CPI, housing starts and industrial production data. However, this week's key event risk would be FOMC meeting minutes, slated for release on Wednesday, which would help investors to determine the Federal Reserve's monetary policy outlook and eventually drive the US Dollar in the near-term.

Technical levels to watch

On the downside, 0.9640 area seems to provide immediate support, below which the pair seems to extend its downslide further towards a short-term ascending trend-line support near 0.9600-0.9590 region. Meanwhile on the upside, 0.9700 round figure mark now becomes immediate resistance, which if cleared is followed by 100-day SMA support break-point turned resistance near 0.9730-35 region. A follow through buying interest back above 100-day SMA resistance now seems to help to pair to extend its recovery trend initially towards 0.9765 region and eventually towards 0.9800 round figure mark.