Forex: USD/CHF establishing daily minimums at 0.9325

FXstreet.com (Barcelona) - In the absence of any groundbreaking news or indicator releases, the USDCHF has been in a range of 35 pips (0.9323 intraday minimum, 0.9358 intraday maximum). In recent moments the cross has plunged, establishing new session lows in the region of 0.9323, which constitutes a loss of -0.25% below its opening.

A high wave Doji (bearish pattern) is just under the pivot point in USDCHF Hourly charts, culminating in a moderate bearish pattern below a strong resistance. Given the pair's proximity to the 0.9367 level, we can consider shorts under the said price with stops placed above the pivot point for a low risk-high reward trade." writes Mark De La Paz.

Later this morning in the EMU, Industrial Production figures are slated for release at 9:00 GMT. Following this release, several high profile indicators out of the US economy - beginning at 12:30 GMT - will dominate the afternoon of the European session.

From a technical perspective, Mataf.net analysts highlight the additional propensity of supports at 0.9319, the 0.9286, and finally 0.9236. On the ascension, a break above 0.9402 will initiate added resistive means at 0.9452 and 0.9485.