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- JP Morgan & Co. (based on Bloomberg)
Pair's Outlook
As from today's point of view, USD/CHF forms a down sloping channel, where an upper line could be around a 0.9380/0.94 level, where the 55-day SMA goes and the Bollinger line lies. However, currently, the price is at 0.9360, at the weekly PP level, but it should step higher, as more important levels are situated around a 0.94 zone.
Traders' Sentiment
USD/CHF pair reduces SWFX market participants' support from a buy side by 3% since yesterday, as the majority of traders (70%) have a long position and the other part (30%) believes in a further depreciation. Placed orders market delivers slightly different figures, as 54% placed a buy order and 46% a short order.
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