© Dukascopy Bank SA
"USD buyers took advantage of the post-NFP dip to build on longs. We argued that relative to anything other than rather bloated expectations, Friday's payrolls report was a solid release and we prefer to fade USD weakness this week."
- RBC Capital Markets (based on Reuters)
Pair's Outlook
Despite the Greenback taking a hard hit from the up-trend at 0.9750 last week, the currency managed to recover some of the losses this Monday instead of preserving the downward tendency. If USD/CHF closes above the Oct high at 0.9687, the rally will be expected to extend to the monthly R1. But if the bulls are overpowered, the price may very well give up 100-120 pips and reach the monthly pivot point at 0.9556.
Traders' Sentiment
The sentiment towards USD/CHF in the SWFX marketplace improved, as the share of long positions grew from 57 to 59%. Meanwhile, the distribution between the buy and sell orders is 56 and 44%, respectively.
© Dukascopy Bank SA