USD/CHF fluctuates around 0.97

USD/CHF consolidates in a channel bounded by a 0.97 benchmark and the monthly R2 level at 0.9663. The recent impulse was mainly based on expectations of a reduction of the monetary easing programme in the U.S. and investors wait for actual decisions on which it would be possible to traded in the future. The closest resistance is only around 0.9804, where the weekly R1 merges with the monthly R3, and the support is at 0.9564, where major support intersects the weekly S1.

Investors still prefer to sell the U.S. Dollar, as there are 60% of opened short positions. Pending orders market delivers opposite signals, since only 45% of orders are placed to sell the greenback against the Swiss Franc.