Forex: USD/CHF recovers the mark of 0.9459/63

FXstreet.com (Barcelona) - The USDCHF has pared some of its earlier losses incurred during the European session and recovered 10 pips in recent minutes to trade at 0.9459/63 during American trading Wednesday. Following an uneven performance today, which sea-sawed the pair several times, the cross is currently netting a loss of -0.16%, a notable improvement off of session lows, which bottomed out earlier at 0.9437.

In terms of the technical levels, the USDCHF has looked nothing short of unsettled in the aftermath of an earlier US data release. The ICN.com analyst team calculates the next supports at 0.9425, followed by 0.9390 towards 0.9355. Briefing a recovery, resistances lie at 0.9490 onto 0.9520 and 0.9570.

According to the ICN.com analysts, "The USDCHF is trading negatively and is affected by the bearish Butterfly Pattern, which is pushing the pair lower below 23.6% correction at 0.9460. The first target resides at 0.9420-25 and the breach of which will extend the downside move toward the second target at 0.9365."

Still to come for market participants is the FOMC minutes at 19:00 GMT later today, which may offer some