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Forex: USD/CHF trading at session highs at 0.9683/85

FXstreet.com (Barcelona) - The USD/CHF recovered off its overnight dip yesterday, which erased some of yesterdays steadfast gains. Thursday has seen the pair back on the rise and chugging along, albeit ahead of the economic data release in the EMU later today. In these moments the pair is operating at session highs at 0.9683/85, up +0.37% during European trading.

Briefing the technicals, Mataf.net analysts point to resistive means for the USD/CHF at 0.9722, ahead of 0.9788, and ultimately 0.9827. Conversely, a break below the 0.9617 handle will initiate support at 0.9578 and 0.9512.

Later today in the EMU, the market will learn of several indicators including the Consumer Price Index and Trade Balance at 9:00 GMT.

According to the ICN.com analyst team, “The USD/CHF fluctuated sharply yesterday and remained limited above 61.8% correction at 0.9610; as stability below it keeps the possibility of extending the upside move to test 0.9765 levels valid.”

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