USD/CHF finds support at 0.9478/69

Recent bearish price action has been threatening wholeness of the bullish trend-line, but the fears did not materialise. The market respected 0.9478/69 and is now pushing the price towards hurdles that are obstructing the up-move. The first such level is at 0.9547, though it is unlikely to contain USD/CHF for long. A subsequent resistance area at 0.9594/67, on the other hand, should prove to be more potent.

On average the Swiss Franc is gaining in popularity, it is bought in 42% of cases (31% just yesterday), something that we see in USD/CHF currency pair as well, since 62% of traders expect the Franc to outperform the greenback. The ratio of buy-to-sell orders is 62% to 38%.