USD/CHF soars up to 0.9170/69

While yesterday there were concerns that the bearish correction might extend down to the February low, today it already does not seem that the sell-off will resume. However, there is still some room for consolidation, but the dip should be limited by the support at 0.9141/28. We would now rather focus on the resistances instead. The initial one stands at 0.9215/04, at the moment it guards a road towards the 200-day SMA at 0.9302.

Although compared to yesterday's data (73%) the advantage of the bullish with respect to USD/CHF traders decreased, they still take up the majority of the market, namely 67% of it. In the meantime, relatively there is an even greater gap between the numbers of buy (72%) and sell (28%) orders.