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- Credit Agricole (based on MarketWatch)
Pair's Outlook
For the last five months USD/CHF has been clearly trading within the bearish channel. Nevertheless, taking into account that the currency pair is approaching the down-trend support line, we may expect a deep bullish correction, with a potential surge up to 0.9294/72 in the medium term. The nearest resistance in this case will be 0.9132—the weekly pivot point.
Traders' Sentiment
While the U.S. Dollar is one of the most popular currencies, being bought in 57% of cases, the Swiss Franc is one of the least frequently acquired currencies, only in 26% of cases. Accordingly, a vast majority (72%) of traders are long on USD/CHF, whereas merely 28% of them expect the buck to lose in value.
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