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- Mizuho Securities Co. (based on The Financial Times)
Pair's Outlook
USD/CHF pair's movement is restrained by a four-month high at 0.9513 and the monthly R1 at 0.9488. The price can not breach neither of these levels properly and escape from the channel. The closest support is the weekly S1 at 0.9428 and just a bit lower, at 0.9411, the 20-day SMA. An attempt to overcome the SMA would be the first serious test for a bullish trend, suggesting possible changes in the sentiments.
Traders' Sentiment
Bears enlarged their market share by 3%, reaching 67% in total and showing traders' expectations to see a drop in the near future. Pending orders are slightly less, but still bearish, constituting 58% of waiting orders market.
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