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"The dollar index fell to its lowest in a month on Wednesday hurt by its losses against the euro which rose after Moody's Investors Service affirmed Spain's Baa3 rating"
- ReutersPair's Outlook
After a great yesterday's fall, USD/CHF approached a 0.9235 level, where a monthly S1 and a weekly S2 support levels lie, and currently fluctuates in a narrow range around 0.9240. Seems that price settlement below the uptrend line and the 200-day SMA have accumulated enough impetus to start a downside movement. On the other hand, RSI value is 35.8 and is very close to an over sold zone that might indicate about some reversal movement in the near future.
Traders' Sentiment
USD/CHF keeps bullish sentiments in SWFX market, as 71.3% investors have a long position and 28.7% have a short position. These figures show huge market expectations to see pair's appreciation in the near future. Placed orders segment have more balanced situation, as 50.7% orders are for a long position and 49.3% are willing to be opened as short positions.
© Dukascopy Bank SA