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"Investors are getting more comfortable with the issues of the European periphery; we're going to enter a phase where investors refocus on growth differentials and what that means for the dollar"
- Nomura Holdings Inc. (based on Bloomberg)
Pair's Outlook
While most of daily indicators remain bearish, USD/CHF has not yet been challenged, as the pair carries on moving higher largely unhindered. Resistance zone that stretches from 0.9400 up to 0.9441 should be able to soften the present rally and eventually force the price to change its direction, returning the pair to the downward path to 0.8930, its long-term target.
Traders' Sentiment
The Swiss Franc is the second least popular currency at the moment after the Japanese Yen in the SWFX marketplace, being acquired on average in 28% of cases. Accordingly, the sentiment of traders is highly bullish on USD/JPY, as 72% of market participants hold long positions on the pair. As for the orders, 51% of them are to buy the U.S. Dollar and 49% are to sell it against the Franc.
© Dukascopy Bank SA