© Dukascopy Bank SA
- Nomura Securities (based on CNBC)
Pair's Outlook
Considering that USD/CHF has recently breached 0.89, it is more likely to continue its journey south. The nearest support is the weekly S1 at 0.8843, while a more serious demand area is at 0.8785/71, mainly created by the monthly S2. If the pair passes through this demand zone, it will then be in a position to test the long-term down-trend line at 0.8730, which should initiate a surge.
Traders' Sentiment
The sentiment towards USD/CHF stays bullish, strong and stable, being that at the moment 72% of traders reckon that the U.S. Dollar is to outperform the Swiss Franc. At the same time, the percentage of buy orders is also largely unchanged, it stands at 63% (62% last week).
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