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"We continue to see a non-negligible chance of falling off the cliff at least temporarily, which would lead to an increase in safe-haven demand for the USD and JPY"
- Barclays Plc (based on Bloomberg)
Pair's Outlook
Even though according to a median of banks' forecasts for the first quarter of 2013 USD/CHF should be at 0.95, the price itself was in a down-trend for the last two months. Moreover, technical studies in aggregate are bearish, calling into question whether the expectations will manage to materialize in the next three months. In any case support at 0.9179/72 withstood a recent initial assault of bears and stays the closest line in the sand for now.
Traders' Sentiment
The Swiss Franc is the least frequently bought currency (in 26% of cases across its crosses) in the SWFX market, as compared to its major counterparts. USD/CHF is a no exception, where 72% of traders are bullish and merely 28% are bearish. As for the orders, 48% are to buy the greenback and 52% are to sell it.
© Dukascopy Bank SA