© Dukascopy Bank SA
- Bank of Tokyo-Mitsubishi UFJ (based on CNBC)
Pair's Outlook
USD/CHF returned back to the February 2012 low after a sharp decline, but appears to be unable to continue the up-move beyond the resistance at 0.8945/20. If, however, this zone is breached, the currency pair will have a good possibility to re-test the down-trend resistance line at 0.8990, although we would still consider the U.S. Dollar to be inclined to lose value relative the Franc in the short to medium term.
Traders' Sentiment
Despite a dip down to 0.8799 an absolute majority of the SWFX market participants foresee positive performance of USD/CHF—72% of open positions are long. Concerning the orders, 100 pips above and below the spot 68% of them are to purchase the buck.
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