USD/CHF hovers near monthly R2

USD/CHF has already dropped 100 pips from a Friday's peak, when it reached a 0.9761 level. Currently the pair is traded at 0.9663, where the monthly R2 and weekly PP are located. Further movement directly depends on the sentiments regarding the U.S. Dollar. If investors continue to buy assets denominated in the U.S. currency, USD/CHF should proceed its up-move while facing the resistance at 0.9799, where the monthly R3, weekly R1 and Bollinger band coincide.

Investors keep their strong bearish sentiments, as the sell side has 71% of all opened orders in the market. Pending orders segment is slightly bullish, since 58% of waiting orders are to buy the buck.