© Dukascopy Bank
"Selling pressure has been strong. It's from dollar-buying amid the risk-aversion"
- Resona Bank (based on WSJ)
Pair's Outlook
USD/CHF carries on ignoring all the obstacles on its way upwards, implying attainment of even higher levels in near future. Nonetheless, it should soon start another bearish correction, presumably in the vicinity of 0.9596 or 0.9692, before adding to gains. At the same time intermediate support is at 0.9507, which is reinforced by 0.9466 and thus unlikely to give in easily in case of a dip.
Traders' Sentiment
Despite the Swiss Franc being the least bought currency in SWFX marketplace at the moment, only 47% of positions opened on USD/CHF are bullish. Consequently, 53% of traders currently stay bearish on the pair, while 45% of orders placed within 200 pips from the current price are to acquire the US Dollar and 55% of them are to sell it against the Swissie.
© Dukascopy Bank