USD/CHF moves away from 0.89

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"The overall impression of a soft first quarter is likely to remain very much in place, keeping U.S. yields low and anchored and leaving currency market participants wary of adding long USD exposure."
- BNP Paribas (based on CNBC)


Pair's Outlook

USD/CHF has finally created some distance between itself and the 2012 lows at 0.89. If the currency pair maintains the bearish direction, as suggested by the daily and monthly technicals, its next stop is likely to be the monthly S2 at 0.8785, which is also strengthened by the weekly S3. In case the bears remain in control afterwards, the price may then fall down to 0.8730.

Traders' Sentiment

An overwhelming majority of the SWFX market participants consider the U.S. Dollar to be oversold relative to the Swiss Franc—72% of all open positions opened in USD/CHF are long. In the meantime, 67% of orders are to purchase and 33% are to sell the greenback against the Franc.
© Dukascopy Bank SA

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