USD/CHF struggles to break 100-day SMA

USD/CHF breached the down-trend at 0.8832/14, which implies a strong bullish momentum, but the currency pair is having trouble overcoming the 100-day SMA at 0.8873. Even if it manages to climb over this resistance, there are more challenging hurdles above, such as the monthly R1 at 0.8921 and the 200-day SMA at 0.8954, which need to be breached for the long-term outlook to confirm to be bullish.

The distribution between the bulls (73%) and bears (27%) is unchanged compared to the figures published 24 hours ago. However, the portion of the buy orders 50 pips from the spot grew from 50% to 62%.