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- OANDA (based on MarketWatch)
Pair's Outlook
The currency pair is presently sliding downwards along the bearish trend-line that connects the troughs charted since Jul 31. In case the tendency persists, USD/CHF will hit the support at 0.9030/03, which in turn is formed by the weekly S1, monthly S2 and also by the Feb low. Nevertheless, the near-term studies suggest this area has a low chance of stopping the decline.
Traders' Sentiment
It appears that the traders, taking into account the recent bearish trajectory of the price, view USD/CHF as oversold and thereby ready to commence a recovery. This explains why 70% of positions at the moment are to benefit from buck's appreciation relative to the Swiss Franc.
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