USD/CHF delays recovery

For the time being USD/CHF stays afloat above the monthly pivot point level, thereby preserving its chances to terminate the sell-off that was initiated after a spike up to 0.9248. On the other hand, the pair does not seem to be willing to start erasing the recent losses in the nearest future—there are almost no ‘buy' signals provided by the technical indicators on the three most relevant time-frames.

SWFX traders have become somewhat less confident that the U.S. Dollar is going to outperform the Franc—the portion of long positions decreased by three percentage points to 71%. Concerning the orders, 72% are set to enter longs and 28% to enter shorts on USD/CHF.