USD/CHF Technical Analysis: Set-up remains in favor of bullish traders, though warrant some near-term consolidation

   •  The pair stalled its recent corrective slide near a previous trend-line resistance break-point, now turned support, with bulls now making a fresh attempt to reclaim the 1.0200 round figure mark.

   •  Wednesday's not so dovish FOMC statement prompted some short-covering and the rebound was further supported by positive equities, which tends to undermine the CHF's safe-haven demand.

   •  Technical indicators on hourly charts have again started gaining positive traction, albeit remained in slightly overbought territory on the daily chart and thus, warrant some caution for bullish traders.

   •  The set-up points to some near-term consolidation phase ahead of Friday’s release of the keenly watched US monthly jobs report (NFP) and before the resumption of the pair’s bullish trajectory.

USD/CHF daily chart