USD/CHF inching back closer to session low ahead of US data

Having posted a session high near 1.0060 region, the USD/CHF pair ran through some fresh offers and is now headed to the lower end of daily trading range.

Currently trading around 1.0035 area, a softer tone surrounding the US Dollar, against the backdrop of Friday's disappointing US macroeconomic data and growing tensions between the US and N. Korea, has been weighing on the major. 

This coupled with persistent safe-haven demand and market anxiety ahead of the crucial French Presidential election further collaborated towards restricting the pair's tepid recovery move witnessed during early European session.

Further downslide, however, remained limited amid holiday-thinned liquidity conditions and as market participants await the release of Empire State Manufacturing Index for some fresh impetus.

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Technical levels to watch

A follow through weakness below 1.0025 level is likely to drag the pair back towards the very important parity mark, below which the downslide is likely to pick-up momentum towards 0.9970 horizontal support. 

On the upside, 1.0060 area now seems to have emerged as immediate resistance, which if cleared might lift the pair beyond 100-day SMA hurdle near 1.0075-80 region towards reclaiming the 1.0100 handle.