USD/CHF erodes 0.9567/44

The currency pair is close to breaching the support at 0.9567/44, Mar 14 high, which appears to be unable to save the bullish outlook on the price. Once USD/CHF closes beneath it, a way towards the 200-day SMA at 0.9349/44 will become largely free from notable levels, except for 55 and 100-day SMAs at 0.9468 and 0.9424 respectively. Still, indicators are giving ‘buy' signals, suggesting that a possibility of a surge should not be ruled out yet.

Bears lost their dominance in the market, as their portion contracted to 52% from 61% last week, meaning that at the moment traders' sentiment is neutral towards USD/CHF. In the meantime, there is more willingness from the side of traders to purchase the buck, the share of buy orders increased to 62%.