© Dukascopy Bank SA
"Investors are less pessimistic about the euro zone situation. There is the expectation that something positive will come out of the ECB plan and so investors are more willing to search for risky assets that look attractive"
- Barclays Capital (based on CNBC)
Pair's Outlook
Buying pressure at 0.9680/41 did not manage to lift the currency pair considerably, leaving it below an uptrend. Nonetheless, bullish activity by USD/CHF is still expected to be reignited, which in turn is supposed to lead to gains until 0.9952/1.0003 in the medium-term. Notable supports are at 0.9583 and 0.9519/0.9478 and should contain dips.
Traders' Sentiment
Being that the Swiss Franc is the second least popular currency after the Japanese Yen, an overwhelming majority of traders (71%) hold long positions, expecting USD to appreciate. On the other hand, most of orders (56%) placed on USD/CHF are to buy the swissie.
© Dukascopy Bank SA