USD/CHF falls to monthly pivot point

USD/CHF is getting closer to the major rising trend-line at 0.90, which is supposed to nullify the downward momentum and instead initiate a bullish wave. If this is the case, the currency pair will have a good chance to surpass its August highs and finally revisit this year's peak at 0.9156. Conversely, if the bears keep pushing the rate lower, there are also the 100 and 200-day SMAs able to stop the decline and send the price higher.

There are relatively more bullish traders in the market than last week—their share increased from 71 to 74%. In the meantime, most of the orders, specifically 68% of them, are set to purchase the Dollar.