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"We're looking for further dollar weakness, and a lot of it has to do with the market starting to price in quantitative easing. It's all going to be data dependent. Nonfarm payroll on Friday is going to be key"
- BNP Paribas (based on Bloomberg)
Pair's Outlook
The currency couple is currently struggling with 0.9544/56, which provides enough resistance in order to negate buy signals from medium and long-term indicators and to contain rallies of USD/CHF. Once this area is breached, 0.9628/56 should be targeted next. In case bears are activated and dips start to emerge, supports at 0.9497/89 and at 0.9432/13 are to stand in their way.
Traders' Sentiment
Both the Swiss Franc and Japanese Yen have been the least frequently bought currencies in SWFX marketplace for a prolonged period of time. Consequently, most of traders (66%) are long on USD/CHF, while only 34% of them are short on the pair. The shares of buy and sell orders are 51% and 49%, accordingly.
© Dukascopy Bank SA