USD/CHF just above 100-day SMA

USD/CHF reduces its volatility gradually along with the major currency pairs. The price fluctuates between the 55-day SMA at 0.9402 and the 200-day SMA at 0.9319. The Bollinger band also got flat and began converging towards to the spot price. The closest resistance is at 0.9478, where the monthly R1 merges with the Bollinger band and the next support below a 0.9320 level is the monthly S1 at 0.9158.

Bulls and bears almost reached a deal, as an opened positions distribution is very close to an equilibrium. There are 52% of short positions and 48% of long ones. Pending orders market is bullish with 61% of buy orders.