USD/CHF holds comfortably above 0.93 handle but lacks any follow-through

   •  Hangs near 17-month lows despite easing USD bearish pressure. 
   •  Positive US bond yields/fading safe-haven demand lends some support.
   •  US ISM manufacturing PMI eyed for some short-term trading impetus.

The USD/CHF pair trimmed some of its early gains, albeit has managed to hold with modest daily gains through the mid-European session.

The pair has been finding some buying interest near the 0.9300-0.9290 region over the past one week but has struggled to gain any strong follow-through traction. Even a hawkish assessment of Wednesday's FOMC statement, which, to some extent, eased the prevailing bearish pressure surrounding the US Dollar, did little to assist the pair o register any meaningful recovery from 17-month lows set recently.

However, a fresh wave of an upsurge in the US Treasury bond yields, coupled with a slight improvement in investors' risk appetite, which tends to weigh on the Swiss Franc's safe-haven appeal, helped the pair to hold in positive territory, at least for the time being.

Traders now look forward to the US economic docket, highlighting the release of ISM manufacturing PMI, in order to grab some short-term trading opportunities. The key focus, however, would be on Friday's NFP data, which might help determine the next leg of directional move. 

Technical levels to watch

Momentum above 0.9340 level could get extended towards 0.9375-80 supply zone before the pair eventually darts towards reclaiming the 0.9400 handle. On the flip side, the 0.9300-0.9290 region might continue to protect the immediate downside, which if broken is likely to accelerate the slide towards August 2015 lows support near mid-0.9200s.