USD/CHF hovers under the 200-day SMA

Recent two-week trading was very successful for the Swiss Franc, as the pair slipped from the 200-day SMA and gradually stepped lower along the Bollinger band. However, yesterday the pair experienced a revival of bullish sentiments, which in turn pushed the price through the 100-day SMA at 0.93 to the 200-day SMA at 0.9327. The next resistance is a 0.9380 level, where the 55-day SMA merges with the 20-day SMA.

Bulls received a bunch of stop-losses yesterday, as the buy side contracted by 4% and today has a 66% share in the market. Pending orders segment is rather neutral, as 48% of orders are buy and 52% are sell.