USD/CHF probes 0.89

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"It is evident that the currencies market has been stuck in a narrow range. We're basically looking for something to unstick it. The economic data has not been up to the task."
- TD Securities (based on MarketWatch)


Pair's Outlook

This week's surge has been stopped near 0.89, where resistance is provided by the monthly PP, 2012 lows and the down-trend. Accordingly, now the risks are even more heavily skewed to the downside. If, however, the currency pair does not give up its most recent gains and instead extends the rally, it should not encounter any significant obstacles until 0.8991/75.

Traders' Sentiment

The difference between the amounts of long and short positions open on USD/CHF has widened since the previous report. The portion of the bulls added two percentage points and reached 74%. Concerning the orders placed 100 pips from the spot, there are now significantly more commands to sell—70% (54% yesterday).
© Dukascopy Bank SA

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