© Dukascopy Bank SA
© Dukascopy Bank SA
"The market is scaling back its expectations a little bit for another clear signal of imminent policy easing as early as this week. That's why the dollar is just a little bit firmer"
- National Australia Bank Ltd. (based on Bloomberg)
Pair's Outlook
USD/CHF is anticipated to continue descent after a breach of 0.9577 and then to meet a subsequent support at 0.9510/04, which might slow down the pair, but is unlikely to prevent it from reaching a key area at 0.9407/0.9395. There the price is assumed to receive bullish impetus and to advance at an accelerated pace at least at the beginning of the move.
Traders' Sentiment
The currency pair remains overbought to a great extent, as bulls (72%) presently outnumber bears (28%) by far, implying increased conviction of the market the U.S. Dollar is going to appreciate relatively to the Swiss Franc. As for the orders, 47% of them are to buy the USD and 53% are to sell it.
© Dukascopy Bank SA
© Dukascopy Bank SA