USD/CHF overcomes key resistance

Source: Dukascopy Bank SA
© Dukascopy Bank SA
"The data flow over the last few weeks has actually been quite strong out of the U.S. The U.S. dollar bounced in the last two days, so in the near term it's looking like it will bounce a little further."
- Westpac (based on Bloomberg)

Pair's Outlook

USD/CHF has just broken out of the falling wedge pattern, meaning the outlook on the currency pair is now strongly bullish, even though the weekly and monthly indicators are giving ‘sell' signals. Nevertheless, we should not forget about the tough resistances that lie overhead and may interrupt a recovery, as has already happened in the past. These are the 100 and 200-day SMAs at 0.8875 and 0.8955, respectively.

Traders' Sentiment

The SWFX market sentiment remains strongly bullish with respect to USD/CHF regardless of the latest rally in the price—nearly three out of four traders (73%) are still holding long positions on the U.S. Dollar.
© Dukascopy Bank SA
Back to articles

Actual Topics

Mon, 12 May 2014 15:05:07 GMT

EUR/JPY starting to recover

After last week's decline the Euro started to regain some of its lost value today, at the moment the pair is trading slightly above the monthly S1 at 140.08.

Mon, 12 May 2014 07:09:19 GMT

USD/JPY recovers from 200-day SMA

Unless USD/JPY manages to gain a foothold above the major rising trend-line (in force since the beginning of 2013) that it has recently breached, the pair will be seen as bearish in the long term.

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.