USD/CHF is unchanged at 0.97

USD/CHF is under strong bullish sentiments, as the pair advanced sharply previous week, from the 200-day SMA at 0.93333 to a 0.9750 level during last trading session. If sentiments towards the U.S. Dollar remain in the market, it is likely to see an attempt to breach a 0.9790 level, where the Bollinger band merges with the monthly R3 and weekly R1. In an opposite scenario, the pair should face a support at 0.9662, where the monthly R2 intersects the weekly pivot point.

SWFX market sentiments indicate that investors consider a current price level as elevated and therefore expect to see depreciation soon, thus there are 73% of short positions. Pending orders market is gently bullish with 58% of buy orders.