USD/CHF in free fall

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"Geopolitical risks will keep the dollar under pressure for now, but we do have the U.S. employment data on Friday and focus is likely to shift back to fundamentals towards the end of the week."
- Barclays (based on CNBC)


Pair's Outlook

Being that there were no significant levels beneath 0.89, USD/CHF nosedived down to 0.88 last Friday and may still extend the losses, as the key support is only at 0.87. There the falling support line merges with the monthly S1 and thus the probability of a strong rebound is increased. Then we will be looking for signs of the down-trend resistance line being broken, as it would most likely entail a substantial increase in demand for the greenback.

Traders' Sentiment

The dominance of long positions in the market grew in light of depreciating Dollar—their percentage advanced from 71% to 73%. As for the orders placed on USD/CHF, the portion of buy ones plunged from 76% down to 33%.
© Dukascopy Bank SA

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