© Dukascopy Bank SA
"We suggest positioning for negative nonfarm payroll surprises by being short USD versus other low-yielding major currencies"
- Barclays Capital (based on CNBC)
Pair's Outlook
USD/CHF has rallied steeply, effortlessly piercing through levels at 0.9628 and 0.9692/0.9703, which in turn proved to be unable to stop the U.S. Dollar from appreciating relative to the Swiss Franc. Subsequent resistances at 0.9761 and 0.9844 should be harder to overcome, but are not viewed as capable of containing the pair for a prolonged period of time.
Traders' Sentiment
Stance of market participants stays largely unchanged on USD/CHF. Bulls continue dominating the market, forming 66% of it, whereas bears remain in distinct minority - 34%, being that the Franc is the second least popular currency after the Yen. At the same time situation with orders is rather different, as most of them are sell orders, meaning traders do not expect the pair to be surging for long.
© Dukascopy Bank SA