USD/CHF soared up to 0.9128

The currency pair has quickly covered the distance between the February and June lows and is now forcing its way through the resistance at 0.9128. Once this obstacle is overcome as well, USD/CHF is likely to aim for the 200-day SMA at 0.9363, even though there are many levels, such as 0.9215/06 and 0.9291, that may slow down the price.

Apparently, some of the market participants closed their long positions on USD/CHF after benefiting from the sharp surge in the price. Accordingly, there are now less bulls (66%) than yesterday, but they nonetheless notably outweigh the bears (34%). Concerning the orders, there are by far more traders willing to purchase (74%) the Dollar than to sell it (26%).