USD/CHF stopped by 0.9803/0.9799

An accelerated resistance line that is tangent to lows posted during Feb-Mar period appears to be of great importance to traders, as it has been slowing down the recent rally. Still, the price is expected to increase further, as suggested by the technical indicators, though there is probably going to be a bearish correction down to either 0.9662 or 0.9567/49 prior to another bullish wave.

Most (68%) of people trading USD/CHF believe that the bullish momentum is exhausted and therefore anticipate depreciation of the greenback in the nearest future, although on average in the market these currencies are equally popular. In the meantime, the share of buy and sell orders are 52% and 48% respectively.