© Dukascopy Bank SA
- Barclays (based on CNBC)
Pair's Outlook
As expected, in view of several significant support levels nearby, the downward pressure alleviated, thereby allowing USD/CHF to turn around. The nearest obstacle is 0.8999/90, implied by the 55-day SMA and the weekly PP. In case the surge extends further, the resistance at 0.9042/32, created in turn by the 20 and 100-day SMAs, will be tested next.
Traders' Sentiment
Many traders exploited the latest decline in greenback's value to place even more bullish on the currency bets—the portion of long positions added another two percentage points to arrive at 72%. Concerning the orders, there is currently no considerable difference between the buy (49%) and sell (51%) ones.
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