USD/CHF approaches 20-day SMA

USD/CHF pair breaches the 20-day SMA at 0.9344 today, as the price is on an upside trend since the beginning of the last week. A settlement above the SMA would allow a move higher in a line with technical signals, as the 55-day SMA has already crossed the 200-day SMA. The 100-day SMA will do it also in a few upcoming days, what makes a probability of a further appreciation even higher.

The Swiss Franc faces bearish sentiments, as 56% of opened positions are short. Recent trading below the major SMAs made investors change an investment perspective to more negative. Pending orders market is in a perfect equilibrium, as both sides have a 50% share.