USD/CHF gets rejected by 0.9406/44

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"In the short term, it looks like the dollar is going higher"
- Westpac Banking Corp. (based on Bloomberg)

Pair's Outlook

An attempt to breach 0.9406/44 proved to be unsuccessful. Now the price is headed towards 0.9357/40 to confirm whether a change of polarity principle holds for the recently penetrated downward sloping line, which is now supposed to be a support level. USD/CHF may decline down to 0.9268/44, but is nonetheless viewed as bullish in the long run.

Traders' Sentiment
Considering uncontested dominance of bulls on USD/CHF, who constitute 74% of the market, SWFX marketplace sentiment is positive with respect to the pair. Insight provided by orders is not as unequivocal, since 54% of them are to buy and 46% are to sell the U.S. Dollar.

© Dukascopy Bank SA
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