© Dukascopy Bank SA
- BK Asset Management (based on MarketWatch)
Pair's Outlook
Even though USD/CHF is broadly considered to have bottomed out already, the rate continuously fails to climb back above the June low. Moreover, the daily and weekly studies are largely pointing down, meaning the pair could again re-test the February low at 0.9021 before finally making a successful attempt to break out of the resistance at 0.9128 and thereby starting a robust recovery.
Traders' Sentiment
The bullish market participants have even further enhanced their dominant position in USD/CHF over the two-day pause in trading. Now the share of long positions totals to 73% (71% last Friday), while there are only few (27%) who see softer U.S. Dollar in the future.
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