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- Minori Uchida, Bank of Tokyo-Mitsubishi UFJ (based on CNBC)
Pair's Outlook
While the U.S. Dollar is ceding ground against the Yen, USD/CHF remains stable between the weekly pivot point and the down-trend support line. Still, if we take a note of the daily and weekly technical indicators, the near-term risks are tilted to the downside, meaning the bearish move started on Sep 6 is likely to be extended through the closest notable levels down to the last year's Feb low at 0.8930.
Traders' Sentiment
The Swiss Franc at the moment is the least popular currency in the SWFX market, being bought in merely 27% of trades in its crosses, whereas the U.S. Dollar is acquired 1.5 times more frequently than it is sold. Respectively, a substantial part (71%) of traders in USD/CHF are holding long positions.
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