USD/CHF upheld by 200-day SMA

For now USD/CHF is being underpinned by the support at 0.8943/28, mainly created by the 200-day SMA. Judging by the signals on the daily time-frame, the demand here should be enough to halt the decline and help the pair to regain the ground lost on Friday. This is likely to be the case, since there should not be any tough resistances until 0.9059—monthly R1. Meanwhile, the long-term target is still 0.9156.

Although the bullish traders were already in an overwhelming majority, the percentage of long positions grew even higher, up to 75%. At the same time, the number of buy orders went down, specifically from 58% to 54%.