USD/CHF bumped into 0.9380/65

The supply at 0.9380/65 is currently preventing extension of the surge, but eventually should give way for a long-term recovery, which will also encounter difficulties at 0.9425/00, an area presently inhabited by the weekly R2, monthly PP and the 100-day SMA. Yet another serious challenge will await the emerging bullish momentum at 0.9567

In comparison with the Swiss Franc, the U.S. Dollar is a considerably more popular currency. This is shown by the traders' sentiment towards USD/CHF, where 75% of positions are currently long and the remaining 25% are short. The distribution between the buy and sell orders is nearly the same—74% to 26% respectively.