USD/CHF pulls back to 0.9266/50

Daily technical indicators were right to warn about short-term bearishness—an encounter with 0.9449/0.9337 yesterday led a sell-off back to 0.9266/50 USD/CHF had just breached. Additional support in case of more downward pressure stands at 0.9091/76, but the focus should be on the nearest resistances, namely 55, 100 and 200-day SMAs.

According to the market's expectations, USD/CHF is inclined to go higher from the current levels rather than to be capped by the 200-day SMA for the days to come. Overall the Swiss Franc is a little more popular among traders than the Japanese Yen. It is bought in 33% of cases in its crosses.