USD/CHF Technical Analysis: Bulls defend 200-day SMA despite the post-FOMC sharp rejection slide

   •  The pair's recent recovery move from over three-month tops struggled to make it through the parity mark, though bulls have managed to defend the very important 200-day SMA support.

   •  Technical indicators on the 1-hourly chart have been gaining negative momentum after dovish FOMC and now seemed to support prospects for an extension of the overnight rejection slide.

   •  However, neutral oscillators on 4-hourly/daily charts haven’t been supportive of a firm directional bias and help limit further downside ahead of Friday’s keenly watched US monthly jobs report.
 
   •  Hence, it would be prudent to wait for a sustained break either below the mentioned support or through the parity mark before traders start positioning for the pair’s next leg of a directional move.

USD/CHF daily chart