USD/CHF capped by 0.89

Although for now USD/CHF hesitates to decline, eventually the pair will probably dip down to 0.8730, the long-term falling support line. The daily and monthly technical studies are currently in favour of such a scenario. However, there is a number of significant supports that may interfere, especially the one at 0.8785/71, composed of the monthly S2 and the weekly S3 levels.

A vast majority (71%) of the SWFX market participants remain sure that the U.S. Dollar will eventually overcome weakness and outperform the Swissie. Moreover, the demand for the buck is likely to stay strong, being that 72% of orders set 100 pips from the spot are to purchase the Dollar against the Franc.