USD/CHF Technical Analysis: Rejection slide from 200-hour SMA finds decent support near 0.9900 mark

   •  The pair faded an early European session spike and faced rejection near the 0.9965-70 heavy supply zone, also coinciding with 200-hour SMA.

   •  The pair has now retreated back to over two-month lows set last week, albeit managed to find decent support near the 0.9900 round figure mark.

   •  Oscillators on the daily chart held in the bearish territory and have also started gaining negative momentum on hourly charts, suggesting more downside.

   •  A convincing break below the mentioned handle will reaffirm the bearish outlook and accelerate the slide towards the 0.9845 en-route the 0.9600 mark.

USD/CHF 1-hourly chart