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"Rise in the dollar shows investors are steadily moving into the safety of the currency, which acts as a kind of proxy to U.S. Treasuries"
- DailyFX.com (based on MarketWatch)
Pair's Outlook
The pair has found support at 0.9098/77, though the rebound was not sufficiently strong in order for USD/CHF to gain a foothold at higher levels and maintain upwards direction today as well. While technical studies imply dominance of bears will drag on, there are also no notable supports nearby, until 0.8930, that could potentially stop further Dollar's depreciation.
Traders' Sentiment
According to SWFX sentiment index, USD/CHF currency couple is overbought to a significant extent, as 71% of traders hold long positions and only 29% of them consider an alternative scenario of the Swiss Franc appreciating. The mood is similar with pending orders, where 73% of orders are to buy the greenback.
© Dukascopy Bank SA