© Dukascopy Bank SA
"We're pretty bearish on the dollar. We see weakness against the commodity currencies"
- BNP Paribas SA (based on Bloomberg)
Pair's Outlook
USD/CHF has finally arrived at 0.9424/0.9385 and already commenced recovery. The ultimate target of the pair lies around 1.0045/88, though it will have to breach a number of notable resistances, such as 0.9496, 0.9564/71 and 0.9646/49, prior to reaching its goal. Provided that 0.9424/0.9385 fails to provide sufficient support, additional levels of interest are at 0.9317 and 0.9253/05.
Traders' Sentiment
An overwhelming majority (71%) of market participants stay bullish on USD/CHF, whereas 29% of traders perceive the pair as bearish and have short positions on it. As for the orders, 58% of them are to acquire the Dollar and 42% are to sell it against the Swiss Franc and thus reinforce positive outlook.
© Dukascopy Bank SA