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"U.S. economic indicators and the European situation have been deteriorating rapidly in recent months. The market is pressing the Fed to take action. Their accommodative stance is likely to lead to a lower dollar"
- Mizuho Securities Co. (based on Bloomberg)
Pair's Outlook
USD/CHF has stopped bearish advancement once the pair had encountered a formidable support at 0.9510/0.9475. The currency couple will now attempt to erode the area, as indicated by most of daily technical studies. Nonetheless, either the aforementioned resistance or a subsequent levels at 0.9417 and at 0.9365/36 should reverse latest tendency, as long-term outlook remains positive.
Traders' Sentiment
An increasing number of market participants (70%) favour a scenario, where the U.S. Dollar appreciates relative to the Swiss Franc, since the latter currency is the second least preferred after the Japanese Yen. However, only 43% of orders are to acquire the Dollar and 57% of them are to sell it against the Swissie.
© Dukascopy Bank SA