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"Currency majors are moving within familiar trading ranges, but some optimism re-emerged to the detriment of [the dollar], although the Greek debate is still in the spotlight"
- UniCredit (based on MarketWatch)
Pair's Outlook
USD/CHF stayed below the 55-day SMA for the last two months and currently appears to be lacking bullish momentum in order to overcome it. Accordingly, the price may fall as low as 0.9222/0.9194 in the nearest future prior to receiving sufficient upward impetus to challenge the moving average once again. Still, the long-term outlook is from neutral to negative, since the pair is below the 200-day SMA and a major resistance.
Traders' Sentiment
The Swiss Franc is the least preferred currency in the SWFX marketplace and is acquired in 26% of cases on average. USD/CHF in this sense is no exception, as only one in four positions is short on the pair. Concerning orders, the signal is not as strong, but is nevertheless bullish, since 58% of them are to buy the Dollar.
© Dukascopy Bank SA