USD/CHF aims for long-term SMA

Even though on the weekly and monthly time-frames the technical indicators are in favour of a decline, USD/CHF preserves bullish momentum and is likely to advance further. A necessary condition for the outlook to remain positive is intactness of the up-trend support line, which at the moment stands at 0.8987/71. However, 0.9038/25 may be enough to prevent any losses in the near term.

An overwhelming majority of the SWFX market participants are optimistic with respect to the U.S. Dollar—as many as 75% of all positions imply its appreciation. Concerning the orders placed within 100 pips from the current trading price, there is no significant difference between the buy (47%) and sell (53%) ones.