USD/CHF eyes 0.9393

As expected, in the end the price has verified its propensity to increase, soaring up to 0.9363 yesterday. USD/CHF is even able to step a little bit higher, up to 0.9393, which is the current location of the 200-day SMA, prior to the sell-off kicking in and trimming the latest gains. Further appreciation of the U.S. Dollar will be complicated by the fact that a rising trend-line, which has preserved its topicality for at least a year already, is at 0.9393 as well.

Little by little traders' sentiment is changing from neutral to a more bullish one, as the percentage of long positions has reached 55%, while the share of short ones has declined to 45%. The distribution among buy and sell orders is 64% to 36% accordingly.