© Dukascopy Bank SA
- DailyFX (based on CNBC)
Pair's Outlook
Yesterday USD/CHF pierced through a number of levels and reached an important resistance, namely 0.9096/91. Accordingly, the currency pair is now inclined to make a bearish correction, possibly down to the weekly PP and the 100-day SMA, while a deeper retracement is unlikely. Then the U.S. Dollar will be expected to attempt to challenge the 200-day SMA.
Traders' Sentiment
While the distribution between the bullish and bearish SWFX market participants is nearly constant—74% of positions are long and 26% are shorts, there are substantially more buy orders than yesterday—as many as 79% of traders are currently willing to acquire the buck against the Yen.
© Dukascopy Bank SA