USD/CHF jumps to down-trend resistance

USD/CHF has finally reached the upper edge of the falling wedge, meaning it is now close to exiting the pattern and commencing a robust long-term recovery. However, for now the resistance at 0.8825 proves to be quite tough and is not letting the currency pair to advance further. Consequently, there could be a retracement back to 0.8800/0.8786 before the greenback launches yet another attack.

Even though a portion of the traders have become somewhat less convinced in the U.S. Dollar's bullish intentions, a distinct majority of them in the SWFX marketplace, namely 72%, are betting that the greenback is still going to outperform the Swiss Franc.