USDCHF recoils near 2 years low in FX market
2/2/2018 1:42:01 PM
After restoring almost 2 years lows in Forex market, the USDCHF pair presented a minor recovery and is now looking to move back above the 0.9315 handle.
Constant move beyond the 0.9315 handle is probable to get expanded more towards 0.9337-43 supply zone, which if cleared might cause a short-covering rebound back towards regaining the 0.9403 handle.
On the other hand, the 0.9255-43 area now appears to have arisen as an immediate support, below which the pair is probable to speed up the slide towards 0.9217-10 area on the way 0.9205 handle.
FOREX market analysis by FxErvin.