© Dukascopy Bank SA
"The dollar overall is bid."
- Union Bank (based on Bloomberg)
Pair's Outlook
The currency pair did not confirm a breach of the 200-day SMA and quickly returned back above 0.8939, meaning the bullish outlook is not invalidated. If the greenback continues to appreciate relative to the Franc, the next resistance to be hit is the weekly R1 at 0.9010. Meanwhile, in the long run USD/CHF is supposed to pierce through the monthly R1 and aim for this year's peak in combination with the monthly R2 at 0.9168/56.
Traders' Sentiment
The share of bullish traders fell from 71% to 66%, as they are supposedly taking profits after the latest rally. In the meantime, the difference between the numbers of buy and sell commands narrowed from 14 to 0 percentage points.
© Dukascopy Bank SA