USD/CHF at the weekly PP

Pair started right on top of the weekly PP and is not giving any clear directional signals. Short and medium term technicals suggest that the pair will remains in the downtrend. However, we can notice that the pair has been slowing down in the past two weeks and we could expect some neutrality and choppy sessions. Rallies should remain capped by the 20-day SMA; short term dips should find support with the 6 month low at 0.913.

Despite the month long depreciation of the pair 73% of traders remain long on the pair. Majority (68%) of pending orders are in favour for the bulls as well.