USD/CHF remains capped by 0.9128/12

Having difficulties with the resistance at 0.9128/12 this week the currency pair is failing to start a robust rally that would initially take USD/CHF up to 0.9204/0.9187 and then up to the 200-day SMA at 0.9320. However, given the most recent price action, we may still expect a dip down to the February low prior to the long-term ascent, as suggested by the weekly indicators.

The gap between the shares of long and short positions has widened even more, being that the former now constitute 74% of the market (73% yesterday), but for now the greenback remains unwilling to rise in price. As for the orders, 60% are to purchase the U.S. Dollar and 40% are to purchase the Swiss Franc.