© Dukascopy Bank SA
- CitiFX (based on Reuters)
Pair's Outlook
After gaining a solid foothold above the support at 0.9044/21 USD/CHF surged up to the subsequent obstacle at 0.9096/91, the one that stands between the spot and the June low at 0.9128/20. However, a more serious test of the emerging bullish momentum is to take place at 0.9211/0.9187, where the 200-day SMA merges with the weekly R2 levels.
Traders' Sentiment
Recent bullish behaviour of USD/CHF seems to be encouraging traders to enter the market with even more buy trades—the percentage of longs grew to 74% from 72%. As for the orders within 100 pips from the current price, the difference between the buy ones (54%) and the sell ones (46%) is currently small.
© Dukascopy Bank SA