© Dukascopy Bank SA
Not so long ago USD/CHF found strong support at 0.8968 which helped the currency pair to commence a recovery. However, the U.S. Dollar has recently run into the resistance level at 0.9136 that is not letting the appreciation to carry on.
Meanwhile, every unsuccessful attempt of the price to surge has led to a dip which in turn was stopped by the support at 0.9067 that lately has been reinforced by the long-term moving average for the last 200 periods. According to the SWFX market participants USD/CHF will eventually resume the up-move—71% of them are currently holding long positions.
© Dukascopy Bank SA