EUR/CHF technical analysis: Recovers from over 2-year lows, still deep in the red near 1.0900 mark

• The EUR/CHF cross extended its recent steep decline and tumbled to an intraday low level of 1.0863 - the lowest level since 26 June 2017 during the European session on Monday.
• A sharp deterioration in the global risk sentiment - reinforced by tumbling global bond yields, benefitted the Swiss Franc's safe-haven status and exerted some heave pressure on the cross.

From a technical perspective, Friday's decisive breakthrough a short-term descending trend-line support - extending from late-Jan. through late-March and late-July swing lows, was seen as a key trigger for bearish traders and a strong follow-through selling on the first day of a new trading week.
 
Meanwhile, technical indicators on the daily chart are already flashing highly oversold conditions and seemed to be the only factor that helped ease the bearish pressure. This coupled with a goodish pickup in the shared currency further collaborated to the pair's intraday bounce back closer to the 1.0900 round figure mark.
 
However, any further recovery is more likely to meet with some fresh supply and fizzle out rather quickly near the mentioned trend-line support breakpoint, now turned resistance near mid-1.0900s amid a fresh escalation in trade disputes between the world's two largest economies and the prevalent risk-off mood.

EUR/CHF daily chart