USD/CHF erodes 0.9283/66

Apparently, USD/CHF is not willing to descend beneath the round level of 0.92, meaning that the focus is presently on the nearest resistances. These are 0.9283/66 (20-day SMA and resistance line) and 0.9310 (weekly R1), although a more serious test of the upward tendency, if reached, should take place at 0.9364, where the 55 and 200-day SMAs merge.

The belief among the market participants that the greenback is going to outpace the Swiss Franc is only growing. This is reflected in the fact that the portion of long positions added another three percentage points. As a result, at the moment 74 out of 100 traders expect the Dollar to become more expensive.