© Dukascopy Bank SA
"With continued weak activity and inflation data[ in Switzerland], speculation has been rife in the last 24 hours of a lift in the floor to around 1.22 [for EUR/CHF]"
- Royal Bank of Canada (based on Bloomberg)
Pair's Outlook
The U.S. Dollar has recently decelerated the pace of depreciation against the Swiss Franc ahead of an uptrend support, though this is not expected to be the case once 0.9562/53 is violated—the event that will pave the way for the pair to reach 0.9429/0.9398. There USD/CHF will have a significant chance to regain lost on July 29 bullish momentum.
Traders' Sentiment
Even though the portion bulls has diminished, the overall sentiment of SWFX market participants remains positive, being that 71% of traders are long and only 29% are short on the pair. Concerning orders, 51% of them are buy and 49% are sell commands.
© Dukascopy Bank SA