© Dukascopy Bank SA
- Sumitomo Mitsui Bank (based on CNBC)
Pair's Outlook
The support at 0.9021 (Feb low) underpinned USD/CHF, which is now supposed to target resistances. The first goal is the weekly PP together with the 20-day SMA at 0.9067/63. Afterwards the currency pair should rush towards the Jun low at 0.9128, a level that needs to be surpassed by the price to confirm its long-term bullish intentions.
Traders' Sentiment
The Swiss Franc is currently the least preferred currency in the SWFX market, since merely 26% of the positions in its crosses are bets on it becoming stronger. Similarly, the ratio between the bulls and bears on USD/CHF is respectively 73% to 27%. Concerning the orders, 70% of them are to purchase the U.S. Dollar.
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