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"With the economic impact of the Ukrainian conflict now drawing more attention and Treasury yields declining, downward bias for the dollar is building."
- Praevidentia Strategy (based on CNBC)
Pair's Outlook
USD/CHF remains unable to cross 0.91, as it keeps getting pushed back after every attempt to get closer to the 2014 high. And while the daily indicators are still optimistic, neither weekly nor monthly studies are currently supporting appreciation of the Buck. It seems the price may undergo a downward correction prior to a successful attack on 0.91. A dense demand area between 0.90 and 0.89 in this case should underpin the rate.
Traders' Sentiment
The gap between the amounts of bullish and bearish market participants stays at elevated levels, constantly being larger than 40 percentage points. A similar situation is observed between the buy (72%) and sell (28%) orders.
© Dukascopy Bank SA