USD/CHF to terminate bearish correction

Given that USD/CHF has nearly reached the recently broken falling trend-line, the currency pair is expected to rebound from 0.8990/74 and start moving north in the long term. However, considering that the technical indicators are still not supporting this bullish scenario, prior to that the pair could descend to 0.8945/28, where it will encounter the monthly pivot point.

The SWFX traders are strongly convinced that the greenback will rise in value relative to the Swiss Franc—74% of open positions are long, leaving bears in a distinct minority with merely 26% of the market. The distribution between the buy and sell orders is 60% to 40% accordingly.