FXstreet.com (Barcelona) - After bottoming out in the 0.9311 region (intraday minimum), the USD/CHF has pared its losses, recovering 23 pips and establishing new session highs on the heels of economic data in Germany. In these moments the pair has settled in positive territory at 0.9333.

In Germany, the Markit Manufacturing PMI has yielded a result of 45.7 in October, missing its consensus estimates of 48.0. Furthermore, Markit Services PMI also came in slightly below its expectations, by reporting a figure of 49.3 in October, against a projection of 50.0.

During European trading Wednesday morning the cross has recorded an advance of +0.08% above its opening. According to the technical analysts at Mataf.net, the pair will encounter calculated resistance at 0.9358, followed by additional corrective measures to be located at 0.9390, then 0.9437. Conversely, a breach below the 0.9279 handle will initiate supportive means at 0.9232, and ultimately 0.9200.

Wednesday is a busy day in terms of data releases, as within the hour several other indicators across the EMU and Germany are slated for release, including additional Markit PMI data and IFO figures out of Germany.