© Dukascopy Bank SA
"The 2012 precedent suggests that the SNB might intervene and purchase euros at around 1.2010."
- UBS (based on Bloomberg)
Pair's Outlook
After an unsuccessful attempt to breach the Oct high at 0.9687, the pair continues to hover below this important level for a third day in a row. It has even plunged even more, namely below the weekly pivot point at 0.9658. At the same time, we expect the pair to return back above this level, but the ability to cross the mentioned Oct high will be crucial for pair's future development. In case of success, we will expect the Buck to jump up to Nov highs around 0.9740.
Traders' Sentiment
Along with other major currency crosses, sentiment towards USD/CHF changed only marginally, as now 58% of all positions remain long and 42% short. Pending orders in 100-pip range, however, entered the red territory with 56% of them set to sell the US dollar.
© Dukascopy Bank SA