© Dukascopy Bank
"We have election risks ahead of us for Greece and its potential exit from the euro zone, and that's what markets are dwelling on and that will support the U.S. dollar as a safe haven for the next few weeks"
- Westpac Banking Corp (based on Bloomberg)
Pair's Outlook
Bullish impetus of USD/CHF is weakening ahead of 0.9499/0.9507, but nonetheless should be capable of dragging the pair above this resistance eventually. Being that the currency couple has ignored some of the resistances yesterday, it only encourages to assume continuation of the upward trend. Near term dips, on the other hand, are expected to be limited by supports at 0.9466 and 0.9403.
Traders' Sentiment
SWFX traders' sentiment towards USD/CHF has sharply turned neutral, as the portion of bullish positions in the market has plummeted to 53%, allowing the share of bearish trades to surge up to 47%, but at the same time the Swiss Franc is the least popular currency among its major counterparts, followed by the Japanese Yen.
© Dukascopy Bank