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"The ECB and BoE will most likely restart easing but since these outcomes are largely priced in, the U.S. employment report on Friday should be the greater risk event"
- Brown Brothers Harriman (based on MarketWatch)
Pair's Outlook
Resistance at 0.9545/56 was unable to restrain USD/CHF and to prevent it from surging for a prolonged period of time. The next notable level lies at 0.9628/59, where the pair will encounter more serious opposition, breach of which will pave the way towards 0.9692 and 0.9761, since positive outlook is likely to persist until 0.9342/0.9293 is violated.
Traders' Sentiment
The overwhelming majority of traders (68%) continue to hold long positions on USD/CHF, anticipating appreciation of the greenback against the Swiss Franc, which is the least popular currency at the moment in SWFX marketplace. However, being that sell orders form a larger part of the total amount of orders than buy orders, rally of the pair is not expected to last for long.
© Dukascopy Bank SA