USD/CHF aims for 0.9512

Neither the bullish resistance line nor the 200-day SMA were able to halt USD/CHF from rising beyond 0.94. Accordingly, now the pair appears to be poised for additional gains, as there are no notable resistance levels until 0.9488, the monthly R1, and 0.9512, the weekly R1 and Nov 13 high. Behaviour of the price near the latter resistance will be important in defining its bias in the long run.

A recent jump of the price has introduced a significant change into the sentiment of traders towards USD/CHF. Since many bulls have managed to take their profits, their percentage has plunged to 37%, leaving bears in majority, with 63% of the market. Surprisingly, orders have largely stayed unaffected—66% of them are still to acquire the U.S. Dollar.