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- 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).
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