USD/CHF breaches 0.9662

The pair attacked the upper Bollinger band for too long, thus a correction finally took the scene. The price bounced to the weekly R1 and monthly R3 levels at 0.9804 yesterday and then slipped to 0.9663, where the monthly R2 merges with the weekly pivot point. Since sentiments with respect to the U.S. monetary easing failed, it would be rational to see a substantial correction and the closest support for that would be 0.9566, where the weekly S1 coincides with the 20-day SMA.

Mostly investors in the market are bullish, since the majority (68%) of positions are opened as long. Pending orders segment is neutral with equal shares on both sides.