USD/CHF trades beneath the 200-day SMA

USD/CHF is traded without any concrete direction, as the pair fluctuates beneath the 200-day SMA at 0.9335 in a narrow range. Movement in any direction would be complicated, as the resistance and support levels are very close to each other. The 55-day SMA merges with the monthly S1 at 0.9379 and creates the major resistance level, while the 100-day SMA with Bollinger band at 0.9286 contain the major support.

Bulls are sill in control, but the advantage is marginal, since the buy side has only a 51% share of the spot market. Pending orders segment is in line with opened positions market, as 54% of orders are to buy the U.S. Dollar against the Swiss Franc.