EUR/CHF Bounces Off Session Lows Amid EU Economic Data

The EUR/CHF currency pair experienced a bounce from session lows on Wednesday to trade at around 0.9469.

This comes as the pair continues to trade within an ascending channel formation on the 60-minute chart, and is currently trading a few levels above the 100-hour moving average line.

The 14-hour RSI had pulled back from overbought conditions after Wednesday's late pullback, which helped the currency pair recover.

From a fundamental perspective, the EUR/CHF currency pair is being influenced by recent economic data from the EU. The German retail sales for August missed expectations with a YoY change of 1.3%, while the unemployment change for August fell short of forecasts with a change of 12k.