USD/CHF is at Feb low

USD/CHF is currently facing a number of formidable supports, such as the Feb low, a down-trend support line, etc., but, according to the near-term studies, still seems to retain some of the bearish momentum, which could pull the price down to the Feb 2012 low at 0.8930. There the pair has a high chance of stopping the descent and commencing a robust recovery.

Even though the sentiment has become less bullish on USD/CHF since the last report (the share of longs went from 72% down to 69%), the Swiss Franc remains the least popular currency in the SWFX marketplace, being bought in merely 27% of cases in its crosses.