© Dukascopy Bank SA
"There is really nothing substantial to hang your pro-dollar thesis on right now. There is nothing unequivocally in the data to suggest rates are going higher."
- BK Asset Management (based on CNBC)
Pair's Outlook
Although USD/CHF does not seem to be in a hurry to decline at the moment, there are also low chances of the currency pair returning above the 200-day SMA in the nearest future. Instead, the greenback is more likely to focus on the support at 0.8911/04 (weekly S1 and 55-day SMA). Once this demand area is penetrated, the next obstacle will be represented by the monthly PP and 100-day SMA at 0.8881/57.
Traders' Sentiment
The sentiment towards USD/CHF is perfectly unchanged, being that 69% of the positions are still long and 31% are short. At the same time, the percentage of the buy commands 50 pips from the spot price increased, specifically from 72% up to 76%.
© Dukascopy Bank SA