USD/CHF closes in on 0.8975

After hitting 0.8930/26 USD/CHF right now is slowly grinding towards 0.8976. The rally could potentially extend up to the down-trend resistance line at 0.9031/13, but should be capped by it, being that the supply zone is reinforced by the February low and the 55-day SMA. In the meantime, the technical indicators are mixed and therefore do not suggest any specific direction.

Apparently, more traders got encouraged by the recent price action, since the portion of long positions added three percentage points and now they take up 74% of the market. However, the percentage of buy orders in the 50-pip range from the price dropped from 94% to 80%.