USD/CHF corrects further below 1.0100 handle

The greenback extended its corrective slide further on Monday, with the USD/CHF pair now sliding below 1.0100 handle.

Currently trading at 4-day low, around 1.0085-80 region, the pair moved further away from nearly 10-month high touched in the previous week as investors continue to cash in following the pair's recent up-surge of around 650-pips to 1.0200 neighborhood. 

A softer tone around European equity markets and uncertainty over the Italian constitutional referendum is driving safe-haven flows towards the Swiss Franc. Moreover, the greenback also paused its post-election up-surge to the highest level since March 2003 and witnessed a corrective slide. In fact, the overall US Dollar Index is now trading with a loss of around 0.6%. 

Investors now look forward to this week's key US macro releases - revised GDP growth and NFP data, for fresh insights over the Fed's monetary policy stance beyond December meeting. 

In the meantime, broader market sentiment surrounding the risk-associated space would derive the safe-haven demand and drive the major from current levels. 

Technical levels to watch

From current levels, 1.0067 (Nov. 22 low) seems to act as immediate support, which if broken could accelerate the slide further towards 1.0015-10 support area before the pair eventually breaks through parity mark and aims to test 0.9960 horizontal support. On the upside, recovery momentum back above 1.0100 handle might now confront resistance near 1.0140 (session peak), which if cleared decisively should assist the pair back towards recent daily closing high resistance near 1.0170 region.