USD CHF merging on Friday
2/20/2017 12:30:45 PM
According to Fx market The USD versus CHF was seen merging Friday's sharp recovery move back above equivalence mark and fluctuated between tepid gains and slight losses.
Currently clinching just above 90-day SMA near 1.0027 area, the pair struggled for a stable direction on Monday as investors abstained from building on any fresh positions among thin market liquidity conditions in wake of Presidents' Day bank holiday in the US.
From current levels, any upside momentum is likely to oppose immediate persistence near 1.0056 area above which the pair appears to head towards testing 1.0077 persistence ahead of 1.0103 round figure mark. On the other hand, declines back below equivalence mark, causing a succeeding break below 0.9978 horizontal support, appears to drag the pair back towards 0.9966 horizontal support, en-route 0.9934 support area.
FOREX market analysis by FxErvin.