USD/CHF breaches the weekly PP

USD/CHF gradually depreciates for a second straight week, as the pair moves along a down-sloping the 200-day SMA at 0.9357. A new week the pair started by appreciating from the SMA to the weekly PP at 0.9409 and it is very possible to see a test of the 20-day SMA at 0.9451. Since the pair was not volatile recent weeks, technical indicators contracted to a narrow range around the spot price, thus it will be more difficult for the pair to demonstrate big changes.

Traders have almost renewed a balance in USD/CHF pair, as the buy side controls 52% of positions and the sell side 48%. Waiting orders market is more skewed towards a bullish side, since 68% of orders are ready to buy the pair.