USD CHF maintaining declines in FX transactions
1/23/2017 3:52:29 PM
Expanding its short term corrective slide in FOREX market, the USD/CHF pair broke below equivalence mark and fell to the lowest level since mid-November.
Now floating around 100-day SMA near 0.9978 areas, the pair traded with negative bias for the 3rd successive session.
A follow through selling pressure below 100-day SMA support near 0.9983 areas is probable to speed up the slide towards 0.9947 support area below which the pair appears at risk to head towards 0.9915 round figure mark. On the other hand, recovery back above equivalence mark might now provoke persistence near 1.0044 areas, which is followed by persistence near 1.0077 level.
FOREX Fundaental Analysis
Written by FxErvin