USD/CHF's near-term risk is to the downside

In April the 55-day SMA crossed the 200-day indicator, and now there is an increased possibility of another bullish cross, as the 100-day SMA is closing in on the longer-term average. However, daily technicals are strongly bearish, contrary to the weekly and monthly signals that point upwards, meaning that a recovery could be postponed, but supports at 0.9322/0.9293 and 0.9257/45 are to limit possible losses.

Along with the Japanese Yen, the Swiss Franc is among the least preferred currencies, bought in merely 27% of cases. In USD/CHF in particular 60% of traders are in favour of a stronger buck and 40% bet on CHF's appreciation. As for the orders placed on the pair, 54% of them are buy and 46% are sell.