USD/CHF is not intimidated by 200-day SMA

Regardless of the formidable resistances lying overhead, USD/CHF managed to reach the 200-day SMA, but subsequently retreated. Accordingly, at the moment the risks are skewed to the downside. Still, it must be noted that the signals given by the technical indicators are gradually improving, and a spike through 0.8951 should not be ruled out just yet, especially since the pair has just broken out of the falling wedge.

The share of the bulls in the market stays largely unchanged, as it continues to fluctuate above the 70% mark. In the meantime, there was a notable rally in the percentage of sell orders placed 100 pips from the spot price—from 48% up to 57%.