USD/CHF technical analysis: Intraday positive move faces rejection near 200-DMA

• Some renewed USD selling bias kept a lid on the early uptick to one-week tops.
• Technical set-up still supports prospects for some meaningful dip-buying interest.

The USD/CHF pair failed to capitalize on its early positive move to one-week tops and faced rejection near the very important 200-day SMA. Some renewed USD selling bias, triggered by a sharp pullback in the US Treasury bond yields, turned out to be one of the key factors behind the pair's intraday slide of around 40 pips.
 
Meanwhile, technical indicators on hourly charts have been losing positive momentum rather quickly and hence, a follow-through weakness below the 0.9900 handle will set the stage for a move towards challenging the lower end of a short-term ascending trend-channel, extending from multi-month lows set on August 13.
 
However, oscillators on the daily chart maintained their bullish bias and still support prospects for some dip-buying interest near the trend-channel support, currently near the 0.9860 region. Only a sustained breakthrough the mentioned support might negate any near-term positive bias and set the stage for further intraday depreciating move.
 
On the flip side, mid-0.9900s (200-DMA) might continue to act as an immediate strong resistance, which if cleared might now be seen as a key trigger for bullish traders and lift the pair further beyond the recent swing highs - around the 0.9985 region - towards challenging the trend-channel resistance just above the parity mark.

USD/CHF daily chart