USD/CHF stages a goodish bounce from 100/200-day SMA confluence support, climbs to session lows

   •  Improving risk-sentiment/dismal domestic data weigh on the Swiss Franc.
   •  A modest USD uptick provides an additional boost and remains supportive.
   •  Focus shifts to the upcoming FOMC policy update and US-China trade talks.

The USD/CHF pair reversed an early European session dip to the 0.9900 neighborhood and has now recovered a major part of the previous session's downtick to over one-week lows.

The pair stalled its recent rejection slide from the parity mark and continued attracting some buying interest near important moving averages - 100 & 200-day SMAs - confluence support. A larger than expected drop in the Swiss trade surplus for Nov. weighed on the domestic currency and triggered the initial leg of the intraday up-move. 

The Swiss Franc was further weighed down by fading safe-haven demand amid a slight improvement in risk sentiment, as depicted by a goodish rebound in the European equities. This coupled with a modest US Dollar rebound provided an additional boost and contributed to the pair's uptick of around 25-pips.

It would now be interesting to see if the pair is able to build on the momentum or bearish traders see the current bounce as an opportunity to sell as focus shifts to this week's key event risks - the highly anticipated FOMC monetary policy update and the high-level US-China trade talks. 

In the meantime, today's US economic docket, highlighting the only important release of the Conference Board's consumer confidence index, will be looked upon to grab some short-term trading opportunities.

Technical levels to watch

Overview:
    Today Last Price: 0.9932
    Today Daily change %: 0.13%
    Today Daily Open: 0.9919
Trends:
    Daily SMA20: 0.9884
    Daily SMA50: 0.9914
    Daily SMA100: 0.9903
    Daily SMA200: 0.9904
Levels:
    Previous Daily High: 0.9935
    Previous Daily Low: 0.9905
    Previous Weekly High: 0.9991
    Previous Weekly Low: 0.9922
    Previous Monthly High: 1.0009
    Previous Monthly Low: 0.979
    Daily Fibonacci 38.2%: 0.9916
    Daily Fibonacci 61.8%: 0.9923
    Daily Pivot Point S1: 0.9904
    Daily Pivot Point S2: 0.989
    Daily Pivot Point S3: 0.9874
    Daily Pivot Point R1: 0.9934
    Daily Pivot Point R2: 0.9949
    Daily Pivot Point R3: 0.9964