USD/CHF appreciates from the weekly S2

USD/CHF recovers bullish sentiments, as the price appreciates from the monthly S2 level at 0.9257. There are strong resistance levels located in front of the currency pair and effortless appreciation should not be expected. The 100-day SMA and weekly PP levels are positioned at 0.9303 and are currently tested by the price. Slightly higher, at 0.9330, stand the 200-day SMA and the monthly S1 in conjunction with the 55-day SMA, creating the third resistance.

The Swiss Franc faces huge pressure, as 82% of all opened positions in SWFX market are long. Pending orders segment is close to an equilibrium, as 53% of placed orders are buy and 47% are sell ones.