Forex: USD/CHF pares losses to trade at 0.9354/56

FXstreet.com (Barcelona) - The USD/CHF has managed to pare its daily losses thus far, after an earlier setback during European trading took the cross to the depths of 0.9338 (session low). However, the recent climb is now testing the threshold of positive territory, settling at 0.9354/56 in these moments.

According to the ICN.com Technical Analyst Team, “The USD/CHF stabled above 0.9385, maintaining intraday positive expectations today. However, momentum indicators are showing the weak momentum of the pair – if the cross doesn’t break and stabilize below 0.9325 then positivity is still valid.”

Mataf.net analysts point to resistive means for the USD/CHF at 0.9396, onto 0.9444, and ultimately 0.9470. Conversely, a break below the 0.9322 handle will initiate support at 0.9292 and 0.9248.