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FXstreet.com (Barcelona) - The USD/CHF extended recovery rally earlier today in the overnight session, clearing (albeit temporarily) a key near-term barrier at 0.9300 (4 January maximum). However, on the heels of some weak Swiss data, the pair has rescinded its gains Wednesday, presently testing the 0.9300 level and operating at a -0.28% loss in these moments.

"With gains reaching 0.9330 so far, immediate focus lies at 0.9345 (Fib 61.8% of 0.9511/0.9077 descent) and 0.9381 (07 December 2012 high) to possibly look for test of psychological 0.9400 barrier. Overbought near-term studies, however, see pause in recent gains, with corrective easing facing support at 0.9272 and dips expected to hold at/above 0.9250 (55-day EMA) to keep the bullish bias." Warns Slobodan Drvenica, an analyst at Windsor Brokers Ltd.

In Switzerland, Real Retail Sales (YoY) has reported a growth of only +2.9% in the November quarter, which was less than the projected +3.3%, however this figure did mark an improvement from the previous +2.7%. Later today at 10:00 GMT, investors will digest a series of indicators releases out of the EMU, including several high profile CPI figures.

Briefing the technical levels, a breach of the 0.9293 level will trigger further means of supportive correction for the USD/CHF. Conversely, the pair is slated to face calculated resistance at the 0.9330 (0.9331, session high), 0.9345, and 0.9381 levels.

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