USD/CHF is bullish

As it turned out, the support at 0.8974, created by the weekly S1 and the falling down-trend line, was enough to prevent extension of the recent bearish correction. Now, once USD/CHF climbs over the 100-day SMA, the currency pair should aim for 0.9096/91. If this resistance is overcome as well, the 200-day SMA at 0.9192/72 is to become the next target.

Since the greenback started to rapidly gaining value, the portion of bullish positions is decreasing. However, the bulls are not in a hurry to take profits—73% of them are still holding longs. In the meantime, there is no difference between the numbers of buy (51%) and sell (49%) orders.