USD/CHF gains ground

The U.S. Dollar regains its previous positions in the market, and USD/CHF is no exception. Right now the currency pair is attempting to breach 0.8999/89 and thus open a way towards 0.9042/31, where the supply is implied by the 20 and 100-day SMAs. The next objective is going to be the monthly R1 at 0.9091, being that the bullish impetus should be intact until we reach the 200-day SMA.

The traders are becoming less enthusiastic with respect to the buck's ability to appreciate and are staring to square off their positions—the share of longs fell from 72% to 70%. This is supported by the fact that the percentage of sell orders soared from 51% up to 71%.