USD/CHF technical analysis: Intraday pullback finds support near 23.6% Fibo., ahead of 100-hour SMA

• Fading US-China trade optimism benefitted the Swiss Franc's safe-haven status and exerted some downward pressure around the USD/CHF pair on Thursday.
• The pair stalled this week's recovery move from yearly lows and faced rejection near a resistance marked by 38.2% Fibo. level of the 1.0016-0.9693 recent slump.

Despite the intraday pullback, the pair has managed to defend 23.6% Fibo. level and also held above 100-hour SMA, suggesting some dip-buying interest, though bearish oscillators on hourly charts warrant caution for aggressive traders.

Diverging indications on the 1-hourly chart now seem to suggest indecision over the pair’s intraday momentum, which might lead to a consolidative price action amid trade uncertainty ahead of Trump-Xi meeting later this week. 

Hence, it would be prudent to wait for a sustained move in either direction before positioning for any meaningful trading opportunities - either towards 200-hour SMA resistance near mid-0.9800s or retesting sub-0.9700 level or yearly lows.

USD/CHF 1-hourly chart