USD/CHF is at Feb low

Being that USD/CHF has just breached the falling support line and at the moment is changing hands near the February lows, it thereby runs the risk of falling even lower, down to 0.8930. This level, however, must remain intact for the bullish forecasts (median 0.96 for the end of this year) to remain attainable. Otherwise the buck will be inclined to lose value until 0.8568 (the low seen two years ago) is reached.

The sentiment of traders towards USD/CHF is the same as towards USD/JPY, namely strongly bullish, since an absolute majority (75%) of positions are currently long. Moreover, 68% of orders, if triggered, are going to further support the price—they are set to purchase the Dollar.