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- HSBC (based on MarketWatch)
Pair's Outlook
Although USD/CHF seems to be well-supported by 0.8851/33 right now, the risks are deemed to be heavily skewed to the downside. The Dollar is expected to stay bid at least until the price approaches 0.8780/53, but the exchange rate may potentially decline to 0.8650, where a more recent (in force since late July) falling trend-line is creating demand area.
Traders' Sentiment
Even though the percentage of long positions fell by 4%, an overwhelming majority (71%) of market participants are still betting on outperformance of the greenback relative to the Swiss Franc, which in turn is one of the least preferred currencies among the traders.
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