© Dukascopy Bank SA
"The ban [on short selling of financial stocks in Spain and Italy] has contributed to a further flow of capital to both the dollar and the yen"
- FxPro (based on Reuters)
Pair's Outlook
USD/CHF stalled at 0.9906, being unable to overcome it. Nonetheless, one of the following attempts to breach this resistance should be successful, allowing the pair to surge further en route to 0.9960/83, while extension of a rally up to 1.0018/42 will take considerably more effort. In the meantime, supports at 0.9853 and 0.9795/72 should limit possible losses.
Traders' Sentiment
Most of SWFX traders, namely 60% of them, have decided to enter the market with buy trades, while 40% of market participants did the opposite, as they are currently in possession of short positions on USD/CHF. As for the orders, 36% of them are buy orders and 64% are sell orders.
© Dukascopy Bank SA