USD/CHF capped by 0.95 for now

The situation here is somewhat reminiscent of what is happening with USD/JPY since February. Even though the upward-sloping trend-line was indeed violated, the outlook did not change to negative, as we have entered a protracted consolidation phase, which is likely to be followed by a surge, once 0.95 is overcome. However, technical studies are mixed at the moment and do not give a clear indication when this will happen.

The traders' sentiment is unchanged since the last report, since the distribution between long and short positions remains at 47% to 53% accordingly, as there were no significant changes in the price. Concerning orders, 41% of them are intentions to go long and 59% are to go short.