© Dukascopy Bank SA
"The market is anticipating a more aggressive ECB easing policy. The situation is making market volatility increase."
- Meritz Securities (based on Bloomberg)
Pair's Outlook
Ahead of this week's major fundamental events USD/CHF remains inactive, fluctuating just above the weekly PP. Nonetheless, taking into account presence of a tough support level at 0.8941, namely the 200-day SMA, it should be easier for the bulls to take advantage of the situation and push the price further north (towards 2014 peak at 0.9156) than for the bears to negate the current upward momentum and violate the long-term simple moving average.
Traders' Sentiment
Now there are even more long positions than yesterday—three out of four market participants plan to profit from the greenback outperforming the Franc. Meanwhile, 50 pips from the spot price 68% of orders are set to purchase the buck.
© Dukascopy Bank SA