Forex: USD/CHF recovers off session lows to 0.9258/59

FXstreet.com (Barcelona) - After a brief stumble that was contained in the region of 0.9245 (session low), USD/CHF has recovered over 10 pips in recent moments to trade at 0.9258/59, whereby re-entering positive territory Thursday. At this level the pair is tepidly holding onto a gain of +0.02% above its opening.

Newswires have been rather slim up until this point, however the afternoon of European trading is expected to liven up the mood with the onset of the ECB Interest Rate Decision (12:45GMT) and the ECB Monetary Policy and Press Conference at (13:30 GMT).

The USD/CHF resumes its recovery from the 0.9200 mark after clearing initial 0.9255 barrier, though gains failed to reach the next barrier at 0.9285 (07 January high/Fib 76.4%) and more significant 0.9300 handle. Despite positive near-term studies, a lack of bullish momentum still delays a final push through 0.9300 and a resumption of broader recovery from 0.9080 double-bottom.” Warns Slobodan Drvenica, an analyst at Windsor Brokers Ltd.

Drvenica points to resistive means at 0.9270, then 0.9285, and finally 0.9300. On the downside, the USD/CHF will be buoyed by supports at 0.9240, onto 0.9230 and finally 0.9200 (key barrier).

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