USD/CHF rests near Feb low

While our medium and long term bias towards USD/CHF stays bullish, at the moment the currency pair seems to be unable to break free from the gravity of 0.9021 (Feb low). Still, given that the support zone between 0.9021 and 0.8930 remains intact, the rate is inclined to move higher, although the technical indicators are mixed and do not imply a rally in the nearest future.

The sentiment towards USD/CHF remains strongly bullish, but right now is slightly less pronounced than yesterday, being that the share of long positions has declined from 73% to 70% within a day. At the same time the portion of buy orders has contracted even more, from 70% to 62%.