© Dukascopy Bank SA
"If Switzerland is a safe haven, Japan is arguably a better one, given the fact that [the yen] tends to appreciate during crises"
- Citi (based on MarketWatch)
Pair's Outlook
USD/CHF is crawling higher along an uptrend support line and 55 day SMA, while volatility in the markets has vanished ahead of the weekend. An initial obstacle lies at 0.9738/40, followed by a resistance zone at 0.9790/0.9825, while likely further advancement of the pair will encounter a much more stronger area at 0.9954/1.0003.
Traders' Sentiment
Since both the Swiss Franc and Japanese Yen are the least preferred currencies, being bought only in 29% of cases, majority of market participants are also bearish (73%) towards the swissie against the greenback. As for the orders placed on the pair, distribution of buy and sell orders is perfectly equal.
© Dukascopy Bank SA