USD/CHF gradually depreciates

USD/CHF dropped even further yesterday, as the price reached the weekly S1 level at 0.9403. Today the pair remains near the same level, but is very likely to reach 0.9379, where the Bollinger band merges with the monthly S1. Also, an interception point of 55-day and 200-day SMA at 0.9352 is very close to the first support, therefore further depreciation will face a lot of difficulties while checking new lows.

Traders continue to accumulate bearish sentiments, since the sell side added another 12% and is currently taking up 59%. Pending order market is more balanced, as the buy side has control over 58% of waiting orders