USD/CHF probes 0.9128/25

USD/CHF has found significant resistance in the face of 0.9128/25 and may therefore slip to the nearest support at 0.9061/47 or at 0.9031/21 before making another attempt to overcome this supply zone. Still, the risks are skewed to the upside, especially in the longer-term perspective, though the main test of the bullish momentum will take place at 0.9335/25, where the monthly R2 forms a notable obstacle together with the 200-day SMA.

While the Australian Dollar is currently the most frequently bought currency, the Swiss Franc is the least preferred one, being acquired in merely 25% of cases in its crosses. Particularly in the pair with the U.S. Dollar this percentage is higher—34%, but still means that most of traders expect the Franc to lose value.