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"China's rate cut wasn't enough to boost risk appetite. The situation in Europe hasn't changed. The yen and dollar are being bought in a bid for safety"
- Gaitame Online Co. (based on Bloomberg)
Pair's Outlook
Bullish inertia of USD/CHF added to gains yesterday and now the pair attempts to pair previous weekly losses. The continuation of the upward trend would allow traders to profit from targeting 0.9595 level, followed by next resistance levels at 0.9676 and 0.9733.
Traders' Sentiment
At the moment, the Swiss Franc is the least popular currency among its major counterparts. Therefore the sentiment of traders towards USD/CHF currency couple is strongly bullish, as 70% of market participants have entered the market with a buy trade and 30% of them have entered the market with a sell trade.
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