USD/CHF defies bullish outlook

Source: Dukascopy Bank SA
© Dukascopy Bank SA
"The prevailing views are that the Fed will conduct another round of quantitative easing"
- FX Prime Corp. (based on Bloomberg)

Pair's Outlook

USD/CHF has effortlessly pierced through a confluence of supports at 0.9410/0.9385, signifying that proximate rallies are likely to act as bullish corrections rather than an establishment of a long-term trend. The initial support lies at 0.9317, while subsequent levels are at 0.9253 and 0.9205, but these are not viewed as probable turning points.

Traders' Sentiment
SWFX traders' sentiment is bullish towards USD/CHF, since 71% of market participants stay long on the currency pair, while merely 29% of them believe the U.S. Dollar is going to carry on losing value relatively to the Swiss Franc. Moreover, 66% of orders placed are buy orders.

© Dukascopy Bank SA

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