© Dukascopy Bank SA
- DailyFX (based on Reuters)
Pair's Outlook
As it turns out, the strength of the resistance at 0.9128/20 was underestimated. Due to the supply here USD/CHF slid through the monthly R1 and is now approaching the 100-day SMA. This support, in conjunction with the February low and the 55-day SMA, should be able to stop the decline before the price falls below 0.9021 and then restore the upward momentum of the price.
Traders' Sentiment
SWFX traders carry on building up long positions on USD/CHF—their share added yet another three percentage points and now constitutes 74% of the market. As for the distribution of the buy and sell orders between the levels of 0.9170 and 0.8970, 48% are to buy and 52% are to sell the buck.
© Dukascopy Bank SA