© Dukascopy Bank SA
- Mizuho Securities (based on CNBC)
Pair's Outlook
Just within one day USD/CHF came all the way back from 0.9128 down to 0.9021. However, now the currency pair is well-supported and therefore should rebound from the area formed by the weekly S1 and February low. An even tougher demand zone is around the February of 2012 low, which is considered to be a floor and insures the bullish outlook is still valid for the price.
Traders' Sentiment
The share of open long positions in USD/CHF has added two percentage points, meaning that at the moment 74% of traders expect USD/CHF to halt the decline and commence a recovery. Meanwhile, the distribution between the buy and sell orders is respectively 67% and 33%.
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