USD/CHF faces 0.9128/16

USD/CHF is still struggling at the supply zone that consists of the 55-day SMA and the June low, but is expected to overcome it eventually. Meanwhile, we may not rule out a possibility of a dip down to either the monthly PP at 0.9047 or the February low at 0.9021, but in the long run the currency pair should aim for the March high at 0.9567.

Right now the Swiss Franc is the least popular currency in the SWFX marketplace. On average throughout its crosses the Franc is bought merely in 27% of cases. The same situation is observed in USD/CHF, where 73% of open positions are long and the remaining 27% are short.