Technical Analysis USD/CHF capped by 0.90
Pair’s Outlook
USD/CHF made a good attempt to break the resistance at 0.90 on Friday, but in the end it was unable to advance further. As a result, the downside risks substantially increased. The rate is now expected to retreat to a cluster at 0.8933/15, where the monthly pivot point merges with the 200-day SMA and a three-month up-trend. Below, there is the 100-day SMA that could help the pair restore the bullish momentum and launch yet another attack on 0.90.
Traders’ Sentiment
The sentiment stays distinctly bullish with respect to USD/CHF, being that 74% of positions are presently long (71% last week). Concerning the pending orders placed 100 pips from the spot, there is completely no difference between the buy and sell ones.
Source: Dukascopy
