© Dukascopy Bank SA
"Investors are moving away from the safety of the U.S. dollar and moving toward higher risk/reward [opportunities]"
- FXCM (based on MarketWatch)
Pair's Outlook
The currency couple attempted to push through 0.9707/0.9656, but was unsuccessful, thus pointing to its potential to resume recovery. Resistance at 0.9738/40 will stand first on its way upwards, whereas 0.9803/25 and 0.9950/1.0003 will also slow down advancement of the pair, which is not anticipated to be sharp, given mixed signals on daily and monthly timeframes.
Traders' Sentiment
SWFX traders' sentiment is stable and bullish towards USD/CHF, since 71% of the market believe the U.S. Dollar is likely to gain in value relatively to the Swiss Franc, whereas only 29% of traders expect the greenback to depreciate. On the other hand, sell orders constitute majority (57%) over buy orders, the share of which is 43% at the moment.
© Dukascopy Bank SA