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Forex: USD/CHF falls off 0.9500 after ECB decision

FXstreet.com (Barcelona) - A USD/CHF surge was seen during early European trading, however this ultimately stalled at 0.9512 (session high), leading to a paring of gains. Following the news of the ECB – which held rates constant at 0.75%, a move largely expected – the pair is now trading at 0.9485/87, still up +0.36% Thursday.

Mataf.net analysts point to corrective measures of resistance at 0.9500, then 0.9550, and 0.9579. Regarding a paring of gains, supports for the USD/CHF will activate should the pair reach 0.9421 onto 0.9392 and ultimately 0.9342.

According to the ICN.com Analyst Team, “Negativity extended during yesterday’s trading but the pair is still stable above the support for the upside wave as shown on graph. Meanwhile, the stochastic is in oversold areas indicating that trading above the 0.9375 level is positive.”

EMU: ECB unchanged as expected, rate at 0.75% in April

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