USD/CHF penetrates 0.9208/0.9198

USD/CHF is currently experiencing a serious sell-off, despite the fact that there was some distance until the down-trend line at 0.9304/0.8284, a key resistance, around which it was expected to commence focusing on lower levels. The interim support at 0.9208/0.9198 has been nearly breached and now a subsequent area at 0.9184/62 prevents an immediate drop down to 0.8981.

Regardless of the three fourths of market participants staying bullish on the pair, USD/CHF has slipped. However, being that the share of long positions did not decline relatively to the shorts, we may conclude that the traders expect the price to recover in the long run.